Atkore (NYSE:ATKR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atkore (NYSE:ATKR) from a hold rating to a buy rating in a research report released on Sunday.

Several other analysts also recently commented on ATKR. Royal Bank Of Canada set a $76.00 target price on Atkore in a research note on Thursday, July 16th. Citigroup boosted their price target on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.33.

Atkore Trading Up 2.8%

Shares of NYSE ATKR opened at $77.36 on Friday. The firm’s 50 day moving average price is $77.23 and its 200-day moving average price is $70.72. The company has a market cap of $2.61 billion, a PE ratio of -21.61 and a beta of 1.68. Atkore has a 52-week low of $53.49 and a 52-week high of $90.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The firm had revenue of $731.38 million for the quarter, compared to analysts’ expectations of $714.18 million. During the same quarter in the prior year, the company posted $2.04 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, equities research analysts expect that Atkore will post 4.75 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.7%. Atkore’s dividend payout ratio is -36.87%.

Insider Activity at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.61, for a total transaction of $242,839.39. Following the completion of the sale, the director directly owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.67, for a total transaction of $206,202.33. Following the sale, the director owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Atkore

Several large investors have recently modified their holdings of the company. Kestra Investment Management LLC boosted its position in Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after purchasing an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Atkore by 1,263.2% during 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 during the last quarter. Strs Ohio bought a new position in shares of Atkore in the 1st quarter worth approximately $36,000. Jones Financial Companies Lllp lifted 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 worth $39,000 after purchasing an additional 246 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Atkore in the fourth quarter worth approximately $77,000.

Atkore Company Profile

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.