Atkore (NYSE:ATKR) Downgraded to “Hold” Rating by Wall Street Zen

Atkore (NYSE:ATKR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other brokerages have also weighed in on ATKR. Royal Bank Of Canada set a $71.00 price objective on shares of Atkore in a research report on Wednesday, February 4th. Roth Mkm raised their price objective on shares of Atkore from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th. Finally, Citigroup boosted their target price on Atkore from $64.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $75.50.

Atkore Stock Up 1.1%

NYSE:ATKR opened at $69.89 on Monday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -50.28 and a beta of 1.54. Atkore has a one year low of $53.49 and a one year high of $80.06. The stock has a 50-day simple moving average of $63.06 and a 200 day simple moving average of $65.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.40 and a current ratio of 3.42.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. The business had revenue of $655.55 million for the quarter, compared to analysts’ expectations of $650.09 million. During the same quarter last year, the company earned $1.63 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Sell-side analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $65.78, for a total value of $65,780.00. Following the completion of the transaction, the insider owned 35,982 shares of the company’s stock, valued at $2,366,895.96. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atkore

A number of institutional investors and hedge funds have recently made changes to their positions in ATKR. California State Teachers Retirement System increased its holdings in Atkore by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company’s stock valued at $2,333,000 after buying an additional 214 shares during the period. Adams Wealth Management raised its position in Atkore by 0.5% in the fourth quarter. Adams Wealth Management now owns 40,726 shares of the company’s stock valued at $2,576,000 after purchasing an additional 220 shares during the last quarter. Osaic Holdings Inc. raised its position in Atkore by 15.4% in the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock valued at $127,000 after purchasing an additional 240 shares during the last quarter. Jones Financial Companies Lllp raised its position in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Matrix Trust Co raised its position in Atkore by 6.2% in the third quarter. Matrix Trust Co now owns 4,391 shares of the company’s stock valued at $275,000 after purchasing an additional 258 shares during the last quarter.

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.