Atkore (NYSE:ATKR) Stock Rating Lowered by Wall Street Zen

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

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada set a $76.00 price target on Atkore in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Finally, Citigroup increased their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and a consensus target price of $138.33.

Atkore Price Performance

ATKR stock opened at $73.45 on Friday. The company has a market capitalization of $2.48 billion, a P/E ratio of -20.52 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64. Atkore has a 52-week low of $53.49 and a 52-week high of $90.16. The business has a 50-day simple moving average of $77.19 and a two-hundred day simple moving average of $70.20.

Atkore (NYSE:ATKR) last posted its earnings results 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. The company had revenue of $731.38 million for 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%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Research analysts expect that Atkore will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the transaction, the director owned 17,063 shares in the company, valued at $1,256,007.43. This represents a 16.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the sale, the director directly owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Atkore

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC raised its position in 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 acquiring an additional 391 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Atkore by 1,263.2% in the third 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 bought a new position in shares of Atkore during the 1st quarter valued at approximately $36,000. Jones Financial Companies Lllp grew its position in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Atkore during the 4th quarter worth approximately $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.