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 issued to investors on Sunday.

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

Atkore Stock Down 0.2%

NYSE ATKR opened at $76.44 on Friday. Atkore has a 12 month low of $53.49 and a 12 month high of $90.16. 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 market cap of $2.58 billion, a PE ratio of -21.35 and a beta of 1.68. The stock’s 50 day moving average is $77.10 and its 200 day moving average is $70.59.

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

Atkore Announces Dividend

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

Insiders Place Their Bets

In other Atkore news, 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 transaction, the director owned 18,610 shares in the company, valued at $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director owned 17,063 shares of the company’s stock, valued at $1,256,007.43. This trade represents a 16.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.10% of the company’s stock.

Institutional Trading of Atkore

Institutional investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC lifted its stake in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in 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 acquiring an additional 480 shares during the last quarter. Strs Ohio purchased a new stake in Atkore in the first quarter worth $36,000. Jones Financial Companies Lllp increased its stake in Atkore by 61.8% in the first 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 bought a new stake in shares of Atkore during the fourth quarter worth $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.