Atkore (NYSE:ATKR) Rating Lowered to Hold at StockNews.com
Atkore (NYSE:ATKR – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Atkore Stock Performance
Shares of ATKR stock opened at $159.49 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.85 and a current ratio of 2.72. Atkore has a 52 week low of $111.90 and a 52 week high of $164.76. The company’s 50 day moving average price is $133.70 and its two-hundred day moving average price is $143.54. The company has a market capitalization of $5.93 billion, a P/E ratio of 9.24 and a beta of 2.06.
Atkore (NYSE:ATKR – Get Free Report) last released its earnings results on Friday, November 17th. The company reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.51. The firm had revenue of $870.00 million during the quarter, compared to analysts’ expectations of $910.40 million. Atkore had a return on equity of 51.03% and a net margin of 19.61%. The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.18 EPS. On average, analysts expect that Atkore will post 14.73 earnings per share for the current fiscal year.
Insider Activity at Atkore
In related news, insider Mark F. Lamps sold 5,008 shares of Atkore stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $130.66, for a total transaction of $654,345.28. Following the completion of the sale, the insider now directly owns 29,086 shares of the company’s stock, valued at approximately $3,800,376.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO William E. Jr. Waltz sold 79,600 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $150.75, for a total transaction of $11,999,700.00. Following the transaction, the chief executive officer now directly owns 126,788 shares of the company’s stock, valued at $19,113,291. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $130.66, for a total value of $654,345.28. Following the completion of the sale, the insider now owns 29,086 shares of the company’s stock, valued at $3,800,376.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,746 shares of company stock worth $12,672,194. Insiders own 2.56% of the company’s stock.
Institutional Investors Weigh In On Atkore
Several institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management boosted its holdings in shares of Atkore by 25.0% in the 1st quarter. Spire Wealth Management now owns 400 shares of the company’s stock valued at $56,000 after purchasing an additional 80 shares in the last quarter. Metropolitan Life Insurance Co NY grew its position in Atkore by 3.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,531 shares of the company’s stock valued at $287,000 after acquiring an additional 81 shares during the last quarter. Navellier & Associates Inc. raised its stake in Atkore by 0.7% during the third quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock worth $1,766,000 after acquiring an additional 83 shares in the last quarter. Quarry LP lifted its holdings in shares of Atkore by 72.4% in the second quarter. Quarry LP now owns 200 shares of the company’s stock worth $31,000 after acquiring an additional 84 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Atkore by 2.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,656 shares of the company’s stock valued at $654,000 after purchasing an additional 91 shares in the last quarter.
About Atkore (Get Free Report)
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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Original: MarketBeat News Feed: Atkore (NYSE:ATKR) Rating Lowered to Hold at StockNews.com