B. Riley Cuts Atkore (NYSE:ATKR) Price Target to $135.00

Atkore (NYSE:ATKR) had its target price reduced by equities researchers at B. Riley from $183.00 to $135.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 38.32% from the company’s previous close.

A number of other research firms have also recently issued reports on ATKR. Citigroup decreased their price objective on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. KeyCorp assumed coverage on shares of Atkore in a research report on Wednesday, July 10th. They set an “overweight” rating and a $175.00 price target on the stock. StockNews.com lowered shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $175.00 to $100.00 in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $149.50.

Atkore Stock Performance

Atkore stock traded down $3.45 during mid-day trading on Wednesday, reaching $97.60. The company’s stock had a trading volume of 1,137,112 shares, compared to its average volume of 567,551. Atkore has a 12-month low of $97.34 and a 12-month high of $194.98. The company has a market capitalization of $3.56 billion, a P/E ratio of 6.16 and a beta of 2.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. The firm’s fifty day moving average price is $138.21 and its two-hundred day moving average price is $155.84.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same period in the previous year, the firm posted $5.13 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that Atkore will post 14.93 EPS for the current fiscal year.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the transaction, the insider now directly owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atkore

Institutional investors have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in shares of Atkore in the 4th quarter worth about $25,000. GAMMA Investing LLC purchased a new position in shares of Atkore in the 4th quarter worth approximately $26,000. LifeSteps Financial Inc. purchased a new position in shares of Atkore in the 1st quarter worth approximately $33,000. Global Retirement Partners LLC grew its position in shares of Atkore by 405.1% in the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after buying an additional 158 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of Atkore in the 4th quarter worth approximately $58,000.

About Atkore

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.