Atkore (NYSE:ATKR) Stock Rating Lowered by B. Riley

Atkore (NYSE:ATKR) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. They currently have a $84.00 price objective on the stock, down from their previous price objective of $135.00. B. Riley’s price objective points to a potential downside of 0.66% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Loop Capital decreased their target price on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. KeyCorp decreased their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.40.

Atkore Price Performance

Shares of NYSE:ATKR opened at $84.56 on Friday. Atkore has a one year low of $76.01 and a one year high of $194.98. The stock has a fifty day moving average of $87.75 and a 200-day moving average of $114.14. The company has a market capitalization of $3.03 billion, a PE ratio of 5.94 and a beta of 2.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

Several hedge funds and other institutional investors have recently modified their holdings of ATKR. Quarry LP acquired a new stake in Atkore during the second quarter worth $57,000. Mather Group LLC. raised its holdings in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares during the last quarter. Signaturefd LLC raised its holdings in Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the last quarter. Headlands Technologies LLC raised its holdings in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after purchasing an additional 805 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares during the period.

Atkore Company Profile

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.