Atkore Inc. (NYSE:ATKR) Given Average Rating of “Hold” by Brokerages

Atkore Inc. (NYSE:ATKR) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $81.6667.

Several analysts have recently weighed in on ATKR shares. 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. Royal Bank Of Canada upped their target price on Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st.

Insider Transactions at Atkore

In related news, Director Justin A. Kershaw sold 2,799 shares of the company’s 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 sale, the director owned 18,610 shares of the company’s stock, valued at $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 completion of the transaction, the director directly owned 17,063 shares of the company’s stock, valued at $1,256,007.43. This trade represents a 16.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of hedge funds have recently modified their holdings of ATKR. First Trust Advisors LP lifted its position in shares of Atkore by 18.7% during the 4th quarter. First Trust Advisors LP now owns 1,385,741 shares of the company’s stock worth $87,648,000 after buying an additional 218,358 shares during the period. Dimensional Fund Advisors LP grew its position in Atkore by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock valued at $72,341,000 after acquiring an additional 97,514 shares during the period. American Century Companies Inc. raised its stake in Atkore by 14.3% during the third quarter. American Century Companies Inc. now owns 1,158,103 shares of the company’s stock worth $72,659,000 after acquiring an additional 144,844 shares in the last quarter. LSV Asset Management raised its stake in Atkore by 5.8% during the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock worth $60,748,000 after acquiring an additional 52,850 shares in the last quarter. Finally, Coliseum Capital Management LLC bought a new position in shares of Atkore during the fourth quarter valued at $51,189,000.

Atkore Trading Down 4.4%

Shares of ATKR stock opened at $72.68 on Thursday. The firm has a market capitalization of $2.45 billion, a P/E ratio of -20.30 and a beta of 1.68. Atkore has a 1 year low of $53.49 and a 1 year high of $90.16. The firm’s fifty day simple moving average is $78.03 and its 200 day simple moving average is $69.66. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59.

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, beating the consensus estimate of $1.00 by $0.23. The firm had revenue of $731.38 million for 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%.The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, sell-side analysts predict that Atkore will post 4.75 EPS for the current year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Atkore’s payout ratio is -36.87%.

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.