Atkore (NYSE:ATKR) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Atkore (NYSE:ATKR) from a buy rating to a hold rating in a research note released on Monday.

ATKR has been the subject of a number of other research reports. Roth Mkm lifted their price target on Atkore from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Monday, December 29th. Citigroup boosted their price objective on Atkore from $64.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada set a $71.00 price objective on Atkore in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Atkore presently has a consensus rating of “Hold” and an average target price of $75.50.

Atkore Stock Performance

Shares of ATKR opened at $69.15 on Monday. The stock has a 50-day moving average of $63.11 and a two-hundred day moving average of $65.28. Atkore has a one year low of $53.49 and a one year high of $80.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.40 and a current ratio of 3.42. The stock has a market cap of $2.33 billion, a P/E ratio of -49.75 and a beta of 1.54.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Atkore had a positive return on equity of 11.27% and a negative net margin of 1.63%.The company had revenue of $655.55 million during the quarter, compared to analysts’ expectations of $650.09 million. During the same quarter in the previous year, the firm posted $1.63 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, research analysts predict that Atkore will post 4.71 EPS for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Atkore’s payout ratio is -94.96%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $65.78, for a total value of $65,780.00. Following the completion of the transaction, the insider owned 35,982 shares in the company, valued at $2,366,895.96. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Institutional investors and hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC increased its stake in shares of Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after purchasing an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares in the last quarter. Strs Ohio purchased a new position in shares of Atkore in the 1st quarter valued at about $36,000. Jones Financial Companies Lllp increased its stake in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Atkore in the 4th quarter valued at about $77,000.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.