Atkore (NYSE:ATKR) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Atkore from hold to buy, while the broader analyst consensus remains Hold with an average price target of $81.67.
• Atkore reported better-than-expected quarterly results, posting $1.23 EPS versus the $1.00 estimate and revenue of $731.38 million versus expectations of $714.18 million.
• Shares were up 0.2% around $74.08, and recent activity included insider share sales as well as continued buying interest from major hedge funds like Vanguard and First Trust.

Atkore (NYSE:ATKR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a "sell (d)" rating on shares of Atkore in a research report on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Atkore from $71.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday. Citigroup lifted their target price on shares of Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Roth Mkm lifted their target price on shares of Atkore from $71.00 to $77.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. One 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 company. Based on data from MarketBeat, Atkore presently has an average rating of "Hold" and an average price target of $81.67.

Atkore Trading Up 0.2%

ATKR opened at $74.08 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.50 billion, a PE ratio of -20.69 and a beta of 1.67. The business has a 50 day moving average of $64.96 and a 200-day moving average of $66.11. Atkore has a 52 week low of $53.49 and a 52 week high of $80.06.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.00 by $0.23. The business 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%.The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities research analysts predict that Atkore will post 4.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $65.78, for a total value of $65,780.00. Following the transaction, the insider owned 35,982 shares in the company, valued at $2,366,895.96. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the company'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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,098 shares of company stock worth $514,822 in the last quarter. Corporate insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Atkore

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Atkore by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,632,594 shares of the company's stock worth $227,909,000 after buying an additional 273,466 shares during the last quarter. First Trust Advisors LP raised its position in Atkore by 18.7% in 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 last quarter. Dimensional Fund Advisors LP raised its position in Atkore by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company's stock worth $72,341,000 after buying an additional 97,514 shares during the last quarter. American Century Companies Inc. raised its position in Atkore by 14.3% in the 3rd quarter. American Century Companies Inc. now owns 1,158,103 shares of the company's stock worth $72,659,000 after buying an additional 144,844 shares during the last quarter. Finally, LSV Asset Management raised its position in Atkore by 5.8% in the 4th quarter. LSV Asset Management now owns 960,450 shares of the company's stock worth $60,748,000 after buying an additional 52,850 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.