Atkore Inc. (NYSE:ATKR) shares traded -3.95% lower at $116.61 on Wall Street last session.
In accordance with the data, 5 analysts cover Atkore Inc. (NYSE:ATKR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $175.00 and a low of $135.00, we find $146.00. Given the previous closing price of $121.40, this indicates a potential upside of 20.26 percent. ATKR stock price is now 1.38% away from the 50-day moving average and 18.95% away from the 200-day moving average. The market capitalization of the company currently stands at $4.58B.
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It has been rated a hold by 1 analysts and a buy by 4. Brokers who have rated the stock have averaged $149.00 as their price target over the next twelve months.
With the price target of $146, B. Riley Securities recently initiated with Buy rating for Atkore Inc. (NYSE: ATKR). On October 19, 2022, Loop Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $110, while ‘CJS Securities’ rates the stock as ‘Market Outperform’.
In other news, Kelly Daniel S, VP, General Counsel and Sec. sold 11,557 shares of the company’s stock on Dec 01. The stock was sold for $1,422,590 at an average price of $123.09. Upon completion of the transaction, the VP, General Counsel and Sec. now directly owns 24,206 shares in the company, valued at $2.82 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 30, VP, General Counsel and Sec. Kelly Daniel S sold 2,343 shares of the business’s stock. A total of $287,179 was realized by selling the stock at an average price of $122.57. This leaves the insider owning 35,763 shares of the company worth $4.17 million. Insiders disposed of 319,884 shares of company stock worth roughly $37.3 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ATKR stock. A new stake in Atkore Inc. shares was purchased by GATES CAPITAL MANAGEMENT, INC. during the first quarter worth $129,532,000. ROYCE & ASSOCIATES LP invested $14,732,000 in shares of ATKR during the first quarter. In the first quarter, WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in Atkore Inc. valued at approximately $14,074,000. AROSA CAPITAL MANAGEMENT LP acquired a new stake in ATKR for approximately $11,661,000. CAPITAL GROWTH MANAGEMENT LP purchased a new stake in ATKR valued at around $6,414,000 in the second quarter.
Atkore Inc. (NYSE: ATKR) opened at $120.09 on Thursday. During the past 12 months, Atkore Inc. has had a low of $70.50 and a high of $128.36. As of last week, the company has a debt-to-equity ratio of 0.61, a current ratio of 2.90, and a quick ratio of 2.00. The fifty day moving average price for ATKR is $115.02 and a two-hundred day moving average price translates $98.03 for the stock.
The latest earnings results from Atkore Inc. (NYSE: ATKR) was released for Jun, 2022. According to the Specialty Industrial Machinery Company, earnings per share came in at $6.07, beating analysts’ expectations of $5.22 by 0.85. This compares to $4.30 EPS in the same period last year. The net profit margin was 23.00% and return on equity was 82.60% for ATKR. The company reported revenue of $1.03 billion for the quarter, compared to $923.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.39 percent. For the current quarter, analysts expect ATKR to generate $978.76M in revenue.
Atkore Inc.(ATKR) Company Profile
Atkore Inc. manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management. The company offers its products under the Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, Calbond, and Calpipe brands. It serves a group of end markets, including new construction; maintenance, repair, and remodel, as well as infrastructure; diversified industrials; alternative power generation; healthcare; data centers; and government through electrical, industrial, and mechanical contractors, as well as original equipment manufacturers. The company was formerly known as Atkore International Group Inc. and changed its name to Atkore Inc. in February 2021. Atkore Inc. was founded in 1959 and is headquartered in Harvey, Illinois.
