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Home›Current Ratio›Atkore (NYSE: ATKR) Price target raised to $ 98.00

Atkore (NYSE: ATKR) Price target raised to $ 98.00

By admin
August 4, 2021
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Atkore (NYSE: ATKR) saw its price target raised by investment analysts at the Royal Bank of Canada from $ 86.00 to $ 98.00 in a note issued to investors on Wednesday, Benzinga reports. The company currently has an “outperformance” rating on the stock. The Royal Bank of Canada’s price target would suggest a potential rise of 15.94% from the company’s current price.

Separately, Credit Suisse Group raised its price target on Atkore from $ 87.00 to $ 100.00 and gave the stock an “outperformance” rating in a research report released on Wednesday.

ATKR stock traded up $ 0.60 in Wednesday’s session, reaching $ 84.53. 3,448 shares of the company were traded, for an average volume of 335,191. The company’s 50-day moving average price is $ 72.76. The company has a debt ratio of 1.34, a current ratio of 3.13, and a quick ratio of 2.40. The company has a market cap of $ 3.97 billion, a PE ratio of 14.18 and a beta of 2.49. Atkore has a 52 week low of $ 20.42 and a 52 week high of $ 90.08.

Atkore (NYSE: ATKR) last released its quarterly earnings data on Monday, August 2. The company reported earnings per share of $ 3.96 for the quarter, beating consensus analysts’ estimates of $ 3.08 by $ 0.88. Atkore had a net margin of 14.32% and a return on equity of 67.44%. The company posted revenue of $ 853.70 million for the quarter, against analysts’ expectations of $ 727.41 million. In the same quarter of last year, the company made earnings per share of $ 0.67. The company’s revenue for the quarter increased 121.8% year-over-year.

In addition, director A Mark Zeffiro sold 10,000 shares in a trade on Tuesday, May 11. The stock was sold for an average price of $ 85.69, for a total trade of $ 856,900.00. In addition, director Wilbert W. James, Jr. sold 4,126 shares of the company in a trade on Friday, May 21. The shares were sold at an average price of $ 77.74, for a total trade of $ 320,755.24. Company insiders own 1.72% of the company’s shares.

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How will this technology change the gold mining industry?

Large investors have recently changed their holdings in the company. Eaton Vance Management acquired a new position in Atkore shares during the first quarter valued at approximately $ 30,000. Ameritas Investment Company LLC acquired a new position in Atkore during the 1st quarter valued at approximately $ 32,000. Nisa Investment Advisors LLC acquired a new position in Atkore during the 1st quarter valued at approximately $ 36,000. Lindbrook Capital LLC purchased a new position in Atkore shares during the 1st quarter valued at approximately $ 50,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Atkore shares in the 1st quarter valued at approximately $ 70,000. 95.89% of the shares are currently held by institutional investors and hedge funds.

Atkore Company Profile

Atkore, Inc is engaged in the manufacture of electrical cable tray products. It works through the electrical cable tray; and the Mechanical Products and Solutions (MP&S) segments. The Electrical Cable Tray segment manufactures products that deploy, isolate and protect the electrical circuits of a structure from the power source to the final outlet.

Recommended Story: Why Do Analysts Give a Neutral Rating?

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