Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Atkore, with one sell, three hold, one buy and one strong-buy rating among six brokerages. The average 12-month price target is $138.33.
• Atkore reported quarterly EPS of $1.23, exceeding the $1.00 consensus estimate, while revenue of $731.38 million also topped expectations and rose 4.2% year over year.
• The company pays a quarterly dividend of $0.33 per share, equivalent to a 1.7% annual yield, while two directors recently sold shares and insiders own 2.1% of the company.

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have received a consensus rating of "Hold" from the six brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $138.3333.

A number of brokerages have recently issued reports on ATKR. Weiss Ratings reiterated a "sell (d)" rating on shares of Atkore in a research report on Friday, May 1st. Citigroup raised their price target on shares of Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research report on Thursday, July 16th. Finally, Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Sunday.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $76.44 on Monday. The business has a fifty day moving average of $77.10 and a 200-day moving average of $70.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64. Atkore has a twelve month low of $53.49 and a twelve month high of $90.16. The firm has a market cap of $2.58 billion, a PE ratio of -21.35 and a beta of 1.68.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates 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 negative net margin of 4.19% and a positive return on equity of 9.22%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 EPS. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, equities research analysts predict that Atkore will post 4.75 EPS for the current fiscal year.

Atkore Announces Dividend

The company 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. The ex-dividend date was Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.7%. Atkore's payout ratio is presently -36.87%.

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 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 sale, the director directly owned 17,063 shares of the company's stock, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total value of $206,202.33. Following the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Atkore

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after buying an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Atkore by 15.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company's stock worth $7,009,000 after acquiring an additional 16,028 shares during the period. Intech Investment Management LLC grew its holdings in Atkore by 59.7% during the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company's stock worth $1,761,000 after acquiring an additional 10,972 shares during the period. Strs Ohio acquired a new stake in Atkore during the 1st quarter worth $36,000. Finally, Norges Bank bought a new stake in shares of Atkore during the 2nd quarter valued at $467,000.

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.

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