Atkore (NYSE:ATKR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Atkore (NYSE:ATKR) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities research analysts have also recently weighed in on the company. Citigroup upped their target price on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Atkore has a consensus rating of “Hold” and a consensus price target of $138.33.

Atkore Stock Down 0.2%

Shares of NYSE ATKR opened at $73.31 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02. The firm has a 50-day simple moving average of $77.17 and a two-hundred day simple moving average of $70.31. Atkore has a 1 year low of $53.49 and a 1 year high of $90.16. The company has a market cap of $2.48 billion, a P/E ratio of -20.48 and a beta of 1.68.

Atkore (NYSE:ATKR) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $714.18 million. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.Atkore’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Research analysts anticipate that Atkore will post 4.75 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were paid 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 1.8%. Atkore’s dividend payout ratio (DPR) is -36.87%.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 3,299 shares of the business’s 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 in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total transaction of $206,202.33. Following the transaction, the director owned 18,610 shares in the company, valued at $1,370,998.70. The trade was a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Atkore by 657.2% during the 4th quarter. SG Americas Securities LLC now owns 32,023 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,794 shares during the period. Irenic Capital Management LP purchased a new stake in shares of Atkore during the 4th quarter worth about $884,000. LSV Asset Management grew its position in shares of Atkore by 5.8% during the 4th quarter. LSV Asset Management now owns 960,450 shares of the company’s stock valued at $60,748,000 after acquiring an additional 52,850 shares during the period. Willis Investment Counsel grew its position in shares of Atkore by 237.7% during the 4th quarter. Willis Investment Counsel now owns 39,351 shares of the company’s stock valued at $2,489,000 after acquiring an additional 27,698 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Atkore by 62.9% in the 4th quarter. HighTower Advisors LLC now owns 20,336 shares of the company’s stock valued at $1,286,000 after purchasing an additional 7,856 shares in 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.