Fri Sep 20 14:12:51 UTC 2024: ## Atkore Inc. (ATKR) Receives “Moderate Buy” Rating from Analysts

**New York, NY – September 20, 2024** – Atkore Inc. (NYSE:ATKR), a leading manufacturer of electrical, mechanical, safety, and infrastructure products, has been assigned a “Moderate Buy” consensus rating by analysts, according to MarketBeat.com.

Four analysts are currently covering the company, with two assigning a “Hold” rating and two issuing a “Buy.” The average 1-year price target among analysts is $132.00.

Recent analyst reports have been mixed, with Loop Capital decreasing its price target to $130.00 while maintaining a “Buy” rating. B. Riley also lowered its price target to $135.00 but kept its “Buy” rating. Conversely, Royal Bank of Canada downgraded Atkore from “Outperform” to “Sector Perform” and reduced its price target to $100.00, while KeyCorp lowered its target price to $105.00 and retained an “Overweight” rating.

Atkore’s recent quarterly earnings, released on August 6th, showed a strong performance. The company reported $3.80 earnings per share, exceeding analysts’ estimates by $0.28. Revenue for the quarter was $822.40 million, slightly below the consensus estimate of $830.16 million.

The company also announced a quarterly dividend of $0.32 per share, payable on August 30th to shareholders of record on August 20th. This translates to an annualized dividend of $1.28, representing a yield of 1.43%.

Insider trading activity saw Mark F. Lamps, an Atkore insider, sell 500 shares on August 12th at an average price of $95.47.

Hedge fund activity in Atkore has been varied. ICA Group Wealth Management LLC, LifeSteps Financial Inc., and Quarry LP acquired new positions in the stock, while Mather Group LLC significantly increased its stake. Principal Securities Inc. also established a new position.

Atkore’s business focus lies in providing electrical, mechanical, safety, and infrastructure solutions for various applications. The company offers a diverse product range, including conduits, cables, installation accessories, and critical infrastructure solutions like metal framing, mechanical pipe, perimeter security, and cable management.

Overall, while recent analyst opinions differ, Atkore continues to demonstrate strong financial performance and maintains a positive outlook in its core business areas.

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