Atkore (NYSE:ATKR) Stock Price Up 7.8% – Still a Buy?

Shares of Atkore Inc. (NYSE:ATKR) shot up 7.8% during trading on Friday . The stock traded as high as $91.76 and last traded at $91.74. 176,404 shares traded hands during trading, a decline of 72% from the average session volume of 627,716 shares. The stock had previously closed at $85.14.

Wall Street Analyst Weigh In

ATKR has been the topic of several research reports. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $84.00 in a research report on Friday. KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Royal Bank of Canada cut their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Loop Capital decreased their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. Four research 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 company has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Stock Up 7.5 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 6.43 and a beta of 2.13. The firm has a 50-day moving average price of $87.74 and a two-hundred day moving average price of $113.93.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, December 6th. Atkore’s dividend payout ratio is 8.99%.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its stake in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares during the last quarter. Quarry LP grew its position in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the period. Mather Group LLC. lifted its position in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares in the last quarter. Covestor Ltd grew its holdings in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares in the last quarter.

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.