Atkore (NYSE:ATKR) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Atkore Inc. (NYSE:ATKR) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $78.03 and traded as low as $72.34. Atkore shares last traded at $72.6760, with a volume of 232,395 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup increased their price objective on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research report on Friday, May 1st. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada increased their price target on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $81.67.

Atkore Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64. The firm’s 50-day moving average price is $78.02 and its two-hundred day moving average price is $69.69. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -19.36 and a beta of 1.68.

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, topping the consensus estimate of $1.00 by $0.23. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The firm had revenue of $731.38 million during the quarter, compared to analysts’ expectations of $714.18 million. During the same period last year, the business earned $2.04 earnings per share. Atkore’s revenue was up 4.2% compared to the same quarter last year. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, analysts expect that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.33 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. Atkore’s dividend payout ratio is currently -36.87%.

Insider Activity at Atkore

In related news, Director Justin A. Kershaw sold 2,799 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction on 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 directly owned 17,063 shares of the company’s stock, valued at approximately $1,256,007.43. This trade represents a 16.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Atkore

A number of hedge funds and other institutional investors have recently bought and sold shares of ATKR. Empowered Funds LLC grew its stake in Atkore by 8.3% during the 1st quarter. Empowered Funds LLC now owns 133,516 shares of the company’s stock worth $7,865,000 after buying an additional 10,267 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Atkore by 10.1% in the 1st quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock valued at $27,233,000 after buying an additional 42,593 shares during the period. Janus Henderson Group PLC lifted its holdings in Atkore by 23.0% in the first quarter. Janus Henderson Group PLC now owns 17,312 shares of the company’s stock valued at $1,019,000 after acquiring an additional 3,234 shares during the period. Amundi purchased a new position in shares of Atkore in the 1st quarter valued at about $208,000. Finally, California State Teachers Retirement System increased its holdings in Atkore by 24.6% in the first quarter. California State Teachers Retirement System now owns 39,703 shares of the company’s stock valued at $2,339,000 after buying an additional 7,829 shares in the last quarter.

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.