Wall Street Zen Upgrades Atkore (NYSE:ATKR) to “Buy”

Atkore (NYSE:ATKR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other analysts have also recently issued reports on the company. CJS Securities raised Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Monday, December 29th. Citigroup increased their price objective on Atkore from $64.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday. KeyCorp restated a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. Finally, Royal Bank Of Canada set a $71.00 price target on shares of Atkore in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.40.

Atkore Trading Up 3.2%

NYSE ATKR opened at $67.93 on Friday. The firm’s fifty day moving average price is $67.05 and its 200 day moving average price is $65.05. Atkore has a 12 month low of $49.92 and a 12 month high of $80.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.42 and a quick ratio of 2.13. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -48.87 and a beta of 1.60.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $0.83 earnings per share 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 analysts’ expectations of $650.09 million. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. Atkore’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, sell-side analysts expect that Atkore will post 5.79 earnings per share for the current fiscal year.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the company’s 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 in the company, valued at $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 Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors have recently bought and sold shares of ATKR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Atkore during the second quarter worth about $28,000. Kestra Investment Management LLC increased its holdings in Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after buying an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 acquiring an additional 480 shares during the period. Strs Ohio acquired a new stake in shares of Atkore during the 1st quarter valued at approximately $36,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter.

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.