Atkore (NYSE:ATKR) Given New $66.00 Price Target at Citigroup

Atkore (NYSE:ATKR - Get Free Report) had its price objective cut by analysts at Citigroup from $78.00 to $66.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target points to a potential upside of 13.77% from the company's current price.

Several other analysts have also weighed in on the company. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They set a "buy" rating and a $100.00 target price for the company. Roth Capital upgraded shares of Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, KeyCorp decreased their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.17.

View Our Latest Analysis on ATKR

Atkore Stock Performance

Shares of NYSE ATKR remained flat at $58.01 during trading on Monday. The stock had a trading volume of 361,463 shares, compared to its average volume of 697,848. The stock has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $78.46. Atkore has a 1-year low of $49.92 and a 1-year high of $185.42. The firm has a market capitalization of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 EPS. On average, research analysts expect that Atkore will post 5.79 earnings per share for the current year.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.99% of the company's stock.

Institutional Investors Weigh In On Atkore

A number of large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its holdings in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after buying an additional 186 shares in the last quarter. Versant Capital Management Inc raised its stake in Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after acquiring an additional 542 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after purchasing an additional 195 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after purchasing an additional 469 shares during 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.

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