Atkore (NYSE:ATKR) Shares Gap Down – Time to Sell?

Atkore Inc. (NYSE:ATKR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $72.43, but opened at $69.36. Atkore shares last traded at $70.7860, with a volume of 13,220 shares.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on Atkore from $71.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Citigroup raised their price target 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 upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.67.

Atkore Stock Performance

The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average is $77.99 and its two-hundred day moving average is $69.73. The stock has a market capitalization of $2.39 billion, a P/E ratio of -19.66 and a beta of 1.68.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.00 by $0.23. The company had revenue of $731.38 million for the quarter, compared to analyst estimates of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. Atkore’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, sell-side analysts anticipate that Atkore Inc. will post 4.75 EPS for the current fiscal year.

Atkore Dividend Announcement

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

Insider Buying and Selling 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 completion of the sale, the director owned 18,610 shares of the company’s stock, valued at $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $73.61, for a total transaction of $242,839.39. Following the transaction, 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 SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in shares of Atkore during the 3rd quarter valued at $36,525,000. SG Americas Securities LLC lifted its holdings in shares of Atkore by 657.2% in the fourth quarter. SG Americas Securities LLC now owns 32,023 shares of the company’s stock valued at $2,025,000 after buying an additional 27,794 shares during the period. Irenic Capital Management LP bought a new position in Atkore during the fourth quarter valued at about $884,000. LSV Asset Management boosted its stake in Atkore by 5.8% during the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock valued at $60,748,000 after buying an additional 52,850 shares in the last quarter. Finally, Willis Investment Counsel lifted its holdings in Atkore by 237.7% in 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 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.