Atkore (NYSE:ATKR) Stock Rating Upgraded by Wall Street Zen

Atkore (NYSE:ATKR) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Several other equities research analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. One equities 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $138.33.

Atkore Stock Performance

Atkore stock opened at $75.44 on Friday. The stock has a market cap of $2.55 billion, a P/E ratio of -21.07 and a beta of 1.68. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $77.12 and a 200-day moving average of $70.64. Atkore has a 52 week low of $53.49 and a 52 week high of $90.16.

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

Insiders Place Their Bets

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 sale, the director directly owned 17,063 shares of the company’s stock, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of the transaction, the director owned 18,610 shares in the company, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its stake in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Atkore by 15.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock valued at $7,009,000 after purchasing an additional 16,028 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Atkore by 59.7% during the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock worth $1,761,000 after purchasing an additional 10,972 shares during the period. Strs Ohio acquired a new stake in shares of Atkore during the 1st quarter worth approximately $36,000. Finally, Norges Bank bought a new stake in shares of Atkore in the 2nd quarter worth approximately $467,000.

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.