Atkore (NYSE:ATKR) Earns Sector Perform Rating from Royal Bank Of Canada

Atkore (NYSE:ATKR)‘s stock had its “sector perform” rating reissued by 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 suggests a potential upside of 244.30% from the stock’s current price.

Other research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. 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, Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average price target of $138.33.

Atkore Price Performance

Shares of NYSE ATKR opened at $73.19 on Thursday. Atkore has a twelve month low of $53.49 and a twelve month high of $90.16. The firm has a market cap of $2.47 billion, a P/E ratio of -20.44 and a beta of 1.68. The company has a 50 day moving average of $77.21 and a 200 day moving average of $70.18. 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 (NYSE:ATKR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (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 analysts’ expectations of $714.18 million. During the same period in the prior year, the firm posted $2.04 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, 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 business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the 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 transaction, the director directly owned 18,610 shares in the company, valued at $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Atkore

A number of hedge funds have recently bought and sold shares of the company. Ausbil Investment Management Ltd lifted its holdings in Atkore by 219.6% in the second quarter. Ausbil Investment Management Ltd now owns 35,147 shares of the company’s stock valued at $2,546,000 after acquiring an additional 24,149 shares during the period. Baron Wealth Management LLC grew its stake in shares of Atkore by 15.7% during the 2nd quarter. Baron Wealth Management LLC now owns 4,288 shares of the company’s stock valued at $326,000 after purchasing an additional 581 shares during the period. Empowered Funds LLC increased its position in shares of Atkore by 8.3% during the 1st quarter. Empowered Funds LLC now owns 133,516 shares of the company’s stock valued at $7,865,000 after purchasing an additional 10,267 shares during the last quarter. Bank of America Corp DE increased its position in shares of Atkore by 10.1% during the 1st quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock valued at $27,233,000 after purchasing an additional 42,593 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Atkore by 23.0% in the 1st quarter. Janus Henderson Group PLC now owns 17,312 shares of the company’s stock worth $1,019,000 after purchasing an additional 3,234 shares during the period.

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.