StockNews.com Initiates Coverage on Atkore (NYSE:ATKR)
also recently issued reports on ATKR. StockNews.com rates Atkore stock as a buy.
In a report released on Thursday, a research team published a report. The company gave the stock a rating of buy.
ATKR has also been the subject of recent comments from other brokerages. Loop Capital raised their price target on Atkore shares from $150.00 up to $170.00 on Thursday, 2nd February. B. Riley raised their price target for shares of Atkore in a report published on Thursday, 2nd February from $146.00 up to $161.00. The stock was also given a buy recommendation. Citigroup raised their price target for shares of Atkore to $156.00 in a Thursday, February 2nd research report. The stock was given a neutral rating. Royal Bank of Canada raised its price target for shares of Atkore to $177.00 in a report published on Thursday, 2nd February. The stock was also given an outperform ranking. Five analysts have given the stock a buy or a hold recommendation. One analyst gave the stock a hold rating. On Thursday, the stock opened at $122.44. Atkore's 12 month low is $70.50, and its 12 month high is $154.86. The company has a 50-day simple moving median of $129.56 as well as a 200-day simple moving medium of $126.18. The market capitalization is $4.72 billion. It has a price to earnings ratio of 6.30, and a beta value of 2.17. The company's current ratio is 2.99, its quick ratio is 2.10 and it has a debt to equity ratio of 0.57.
The company last released its results on May 9th. The company's earnings per share for the first quarter were $4.31, exceeding the consensus estimate by $0.60. Atkore's net margin was 21.54%, and its return on equity was 66.55%. Analysts had expected $910.20m in revenue for the quarter. The company's revenue was $895.93m. Analysts predict that Atkore's current fiscal year will see 15.12 EPS.
Insider Buying & Selling
The stock was sold in an exchange on Thursday, 9th March. The shares were purchased at $149.79 on average, resulting in a $1,497.900.00 total transaction. The chief financial officer owns directly 30,114 shares of the company valued at $4.510.776.06 after the sale. Insider John W. Pregenzer, who sold 4,754 of the company's shares in a deal that took place on March 1st, has also been making news. The shares were purchased at an average price $150.00 for a value of $713100.00. After the sale, an insider owns directly 26,297 shares of the company valued at $3,944,550. The firm sold 10,000 shares in an exchange that took place on March 9th. The shares were purchased at a price of $149.79 on average, totaling $1,497.900.00. After the sale is complete, the chief executive officer owns 30,114 company shares valued at $4.510.776.66. Insiders own 2.11%.
Atkore: Institutional investors weigh in
Recent changes in hedge fund positions have been made by a number of funds. Raymond James Financial Services Advisors Inc. increased its holdings of Atkore by 289,6% in the first quarter. Raymond James Financial Services Advisors Inc. owns 16,458 of the company’s stock worth $1,620,000. This is after purchasing an additional 12,234 during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings of Atkore by 108% in the first quarter. Cambridge Investment Research Advisors Inc. owns 9,604 of the company’s stock, valued at $945,000. This is after purchasing 4,989 additional shares in the last quarter. HighTower Advisors LLC increased its holdings of Atkore in the first quarter by 2.5%. HighTower Advisors LLC owns 16,070 of the company stock, valued at $1.582,000. This is after purchasing an additional 388 share during the last quarter. Cetera Advisor Networks LLC acquired a new Atkore position valued at $223,000 in the first quarter. PNC Financial Group Inc. increased its Atkore holdings by 12.2% in the first quarter. PNC Financial Services Group Inc. owns 9,464 of the company's shares worth $931,000, after buying an additional 1,031 during the last quarter.
Atkore, Inc is a manufacturer of electrical raceway. It is divided into two segments: Electrical and Safety and Infrastructure. The Electrical segment manufactures products for the construction of electrical systems, such as cable, conduit, and installation equipment. Safety and Infrastructure designs and develops solutions such as metal framing and mechanical pipe for critical infrastructure protection and reliability.
MarketBeat.com offers a FREE daily email newsletter