Atkore (NYSE:ATKR) Hits New 1-Year High - Should You Buy?

Key Points

• Atkore shares hit a new 52-week high, trading as high as $81.63 after closing previously at $76.18, reflecting strong recent momentum in the stock.
• Analysts are mixed on the company, with a consensus rating of “Hold” and an average price target of $81.67, even as several firms recently raised targets and one upgraded the stock to buy.
• Atkore reported better-than-expected quarterly earnings and revenue, with EPS of $1.23 versus $1.00 expected and revenue of $731.38 million, while also announcing a quarterly dividend of $0.33 per share.

Atkore Inc. (NYSE:ATKR - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $81.63 and last traded at $80.9850, with a volume of 144575 shares changing hands. The stock had previously closed at $76.18.

Analysts Set New Price Targets

Several research firms recently commented on ATKR. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Citigroup upped their target price on Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Atkore in a research note on Friday, May 1st. Roth Mkm lifted their price target on Atkore from $71.00 to $77.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their price target on shares of Atkore from $71.00 to $82.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 6th. 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $81.67.

Atkore Price Performance

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 company has a market capitalization of $2.80 billion, a PE ratio of -23.16 and a beta of 1.67. The stock's 50 day simple moving average is $67.24 and its 200-day simple moving average is $66.58.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $714.18 million. During the same period in the prior year, the firm earned $2.04 earnings per share. The business's quarterly 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. As a group, equities analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Atkore's dividend payout ratio is presently -36.87%.

Insider Activity at Atkore

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 completion of the transaction, the director directly owned 17,063 shares of the company's stock, valued at $1,256,007.43. This represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justin A. Kershaw sold 2,799 shares of the firm'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 value of $206,202.33. Following the completion of 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. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC boosted its position in shares of Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after buying an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company's stock worth $32,000 after buying an additional 480 shares in the last quarter. Strs Ohio purchased a new stake in shares of Atkore in the 1st quarter worth about $36,000. Jones Financial Companies Lllp boosted its position in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after buying an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Atkore in the 4th quarter valued at about $77,000.

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.

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