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

Wall Street Zen upgraded shares of Atkore (NYSE:ATKR) from a hold rating to a buy rating in a research note published on Saturday.

Several other brokerages have also issued reports on ATKR. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. Royal Bank Of Canada set a $71.00 price target on Atkore in a research note on Wednesday. Roth Mkm increased their price objective on Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Monday, December 29th. Finally, CJS Securities upgraded Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.40.

Atkore Stock Up 3.2%

ATKR stock opened at $67.93 on Friday. The stock has a 50-day simple moving average of $67.05 and a two-hundred day simple moving average of $64.97. Atkore has a twelve month low of $49.92 and a twelve month high of $80.06. The firm has a market capitalization of $2.29 billion, a PE ratio of -48.87 and a beta of 1.60. The company has a quick ratio of 2.13, a current ratio of 3.42 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $655.55 million during the quarter, compared to analyst estimates of $650.09 million. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, equities analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 17th. Atkore’s payout ratio is -94.96%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $64.75, for a total transaction of $64,750.00. Following the completion of the sale, the insider owned 29,923 shares of the company’s stock, valued at approximately $1,937,514.25. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of large investors have recently added to or reduced their stakes in ATKR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Atkore during the second quarter valued at about $28,000. Kestra Investment Management LLC grew its stake in shares of 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 holdings in 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 period. Strs Ohio bought a new position in Atkore during the 1st quarter valued at approximately $36,000. Finally, Jones Financial Companies Lllp lifted its holdings in 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 buying an additional 246 shares during the period.

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.