Royal Bank Of Canada Reiterates “Sector Perform” Rating for Atkore (NYSE:ATKR)

Atkore (NYSE:ATKR)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank Of Canada in a report released on Thursday,Benzinga reports. They currently have a $252.00 target price on the stock. Royal Bank Of Canada’s target price points to a potential upside of 243.10% from the stock’s current price.

Several other analysts have also issued reports on ATKR. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Finally, Citigroup upped their target price on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $138.33.

Atkore Trading Up 0.4%

ATKR opened at $73.45 on Thursday. Atkore has a twelve month low of $53.49 and a twelve month high of $90.16. The company has a 50-day simple moving average of $77.19 and a 200 day simple moving average of $70.20. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -20.52 and a beta of 1.68.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. The firm had revenue of $731.38 million for the quarter, compared to the consensus estimate of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Analysts predict that Atkore will post 4.75 EPS for the current fiscal year.

Insider Transactions at Atkore

In other news, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction dated 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 approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $242,839.39. Following the completion of the sale, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC grew its position in Atkore by 710.9% during the 2nd 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 last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after purchasing an additional 480 shares in the last quarter. Strs Ohio bought a new position in Atkore in the first quarter valued at about $36,000. 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, Kestra Advisory Services LLC acquired a new stake in shares of Atkore during the fourth quarter valued at about $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.