Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $81.6667.

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

Insider Activity at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.61, for a total value of $242,839.39. Following the transaction, the director directly owned 17,063 shares of the company’s stock, valued at approximately $1,256,007.43. This trade represents a 16.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly 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. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of hedge funds and other institutional investors have recently bought and sold shares of ATKR. Coliseum Capital Management LLC bought a new position in Atkore in the fourth quarter valued at approximately $51,189,000. Earnest Partners LLC bought a new position in Atkore in the fourth quarter valued at approximately $49,571,000. Jefferies Financial Group Inc. bought a new position in Atkore in the third quarter valued at approximately $36,525,000. Oslo Pensjonsforsikring AS bought a new position in Atkore in the first quarter valued at approximately $22,209,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Atkore in the third quarter valued at approximately $21,214,000.

Atkore Price Performance

Shares of ATKR stock opened at $80.77 on Friday. Atkore has a 1 year low of $53.49 and a 1 year high of $90.16. The firm’s 50 day moving average is $72.97 and its 200-day moving average is $67.89. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -22.56 and a beta of 1.66. 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 (NYSE:ATKR) last posted 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. 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 for the quarter, compared to the consensus estimate of $714.18 million. During the same quarter in the prior year, the business earned $2.04 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts forecast 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 issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.32 annualized dividend and a yield of 1.6%. Atkore’s dividend payout ratio is currently -36.87%.

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.