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

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

A number of other research analysts have also recently commented on the company. Royal Bank Of Canada set a $76.00 price target on Atkore in a research report on Thursday. Citigroup lifted 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $138.33.

Atkore Trading Up 0.0%

Shares of ATKR stock opened at $73.45 on Friday. The company has a 50 day moving average of $77.19 and a 200-day moving average of $70.24. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. Atkore has a 12-month low of $53.49 and a 12-month high of $90.16. The firm has a market cap of $2.48 billion, a P/E ratio of -20.52 and a beta of 1.68.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating 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 business 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 earnings per share. Atkore’s revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts anticipate that Atkore will post 4.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 sale, the director owned 17,063 shares of the company’s stock, valued at approximately $1,256,007.43. This represents a 16.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction dated Friday, May 8th. The stock was 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 in the company, valued at $1,370,998.70. This trade represents a 13.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC grew its stake in Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after acquiring an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Atkore by 1,263.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after acquiring an additional 480 shares during the period. Strs Ohio purchased a new stake in Atkore in the 1st quarter worth approximately $36,000. Jones Financial Companies Lllp lifted its stake in Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Atkore in the 4th quarter worth approximately $77,000.

Atkore Company Profile

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.