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

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

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

Atkore Trading Up 4.6%

Shares of ATKR opened at $76.44 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02. Atkore has a 1-year low of $53.49 and a 1-year high of $90.16. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -21.35 and a beta of 1.68. The firm has a 50 day simple moving average of $77.10 and a 200-day simple moving average of $70.56.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. The firm 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%.Atkore’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities analysts forecast that Atkore will post 4.75 EPS for the current fiscal year.

Insider Activity at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 3,299 shares of the business’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 directly owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $206,202.33. Following the completion of the transaction, the director owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This trade represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors have recently added to or reduced their stakes in ATKR. Jones Financial Companies Lllp grew 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 valued at $39,000 after buying an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Atkore by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock valued at $7,009,000 after acquiring an additional 16,028 shares during the last quarter. Intech Investment Management LLC grew its position in Atkore by 59.7% during the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock valued at $1,761,000 after acquiring an additional 10,972 shares during the period. Strs Ohio purchased a new stake in Atkore during the first quarter valued at about $36,000. Finally, Norges Bank acquired a new stake in Atkore during the 2nd quarter worth approximately $467,000.

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.