Atkore Inc. (NYSE:ATKR) Short Interest Update

Atkore Inc. (NYSE:ATKR) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,850,000 shares, a growth of 15.6% from the March 31st total of 5,060,000 shares. Based on an average trading volume of 485,800 shares, the short-interest ratio is currently 12.0 days. Approximately 16.1% of the company’s shares are short sold.

Atkore Trading Down 4.3 %

NYSE ATKR opened at $175.25 on Wednesday. The stock has a market capitalization of $6.44 billion, a P/E ratio of 10.51 and a beta of 2.19. Atkore has a 52-week low of $116.14 and a 52-week high of $194.98. The firm has a 50-day moving average price of $174.91 and a 200 day moving average price of $154.05. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. During the same period last year, the company posted $4.51 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Atkore will post 15.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ATKR shares. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 target price on shares of Atkore in a report on Friday, March 22nd. Finally, Citigroup upped their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Insider Activity at Atkore

In related news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the transaction, the vice president now directly owns 34,907 shares in the company, valued at $6,041,354.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atkore news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now directly owns 25,590 shares in the company, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,464 shares of company stock worth $25,124,751. Insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently made changes to their positions in ATKR. ICA Group Wealth Management LLC purchased a new position in Atkore during the fourth quarter worth about $25,000. GAMMA Investing LLC purchased a new position in shares of Atkore in the 4th quarter worth about $26,000. Orion Capital Management LLC purchased a new position in shares of Atkore in the 3rd quarter worth about $30,000. Anchor Investment Management LLC acquired a new stake in shares of Atkore in the fourth quarter valued at about $32,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Atkore in the first quarter valued at about $33,000.

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.