Brokerages Set Atkore Inc. (NYSE:ATKR) Price Target at $81.67

Atkore Inc. (NYSE:ATKR) has been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $81.6667.

Several equities analysts recently weighed in on ATKR shares. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup raised their price objective on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Finally, Royal Bank Of Canada raised their target price on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th.

Atkore Price Performance

Shares of NYSE:ATKR opened at $79.26 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. Atkore has a 1 year low of $53.49 and a 1 year high of $90.16. The business has a fifty day simple moving average of $74.56 and a 200 day simple moving average of $68.37. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -22.14 and a beta of 1.66.

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

Atkore Dividend Announcement

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

Insider Activity

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.61, for a total transaction of $242,839.39. Following the transaction, the director directly owned 17,063 shares in the company, valued at $1,256,007.43. This trade represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director owned 18,610 shares in the company, valued at approximately $1,370,998.70. This trade represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atkore

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Atkore by 10.1% in the first quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock worth $27,233,000 after purchasing an additional 42,593 shares during the period. Janus Henderson Group PLC increased its stake in shares of Atkore by 23.0% in the first quarter. Janus Henderson Group PLC now owns 17,312 shares of the company’s stock worth $1,019,000 after purchasing an additional 3,234 shares during the period. Amundi bought a new position in shares of Atkore in the first quarter worth about $208,000. California State Teachers Retirement System increased its stake in shares of Atkore by 24.6% in the first quarter. California State Teachers Retirement System now owns 39,703 shares of the company’s stock worth $2,339,000 after purchasing an additional 7,829 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Atkore by 8.3% in the first quarter. Empowered Funds LLC now owns 133,516 shares of the company’s stock worth $7,865,000 after purchasing an additional 10,267 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.