Atkore (NYSE:ATKR) Share Price Passes Below 50 Day Moving Average - Here's What Happened

Key Points

• Atkore shares fell below their 50-day moving average, trading as low as $72.34 and last changing hands around $72.68, down 4.4% on the day. The stock’s 50-day average was $78.03.
• Analysts remain mixed on Atkore, with recent price-target increases from Citigroup and RBC, but the overall consensus rating is still “Hold.” The consensus price target stands at $81.67.
• The company beat fiscal Q2 earnings expectations, reporting $1.23 EPS versus the $1.00 estimate and revenue of $731.38 million, while also maintaining FY2026 EPS guidance of $5.05 to $5.55.

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $78.03 and traded as low as $72.34. Atkore shares last traded at $72.6760, with a volume of 232,395 shares.

Analysts Set New Price Targets

ATKR has been the subject of several analyst reports. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Citigroup upped their price target on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Atkore in a research note on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price target on shares of Atkore from $71.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $81.67.

Atkore Trading Down 4.4%

The firm has a market cap of $2.45 billion, a PE ratio of -20.30 and a beta of 1.68. The company has a quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 0.59. The company's 50 day moving average price is $78.03 and its two-hundred day moving average price is $69.66.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS 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 during the quarter, compared to analysts' expectations of $714.18 million. During the same period in the previous year, the company earned $2.04 EPS. The firm's revenue for the quarter 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, sell-side analysts forecast that Atkore Inc. will post 4.75 EPS for the current year.

Atkore Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.8%. Atkore's dividend payout ratio (DPR) is -36.87%.

Insider Activity at Atkore

In related news, Director Justin A. Kershaw sold 2,799 shares of the business'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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the sale, the director owned 17,063 shares of the company's stock, valued at $1,256,007.43. This trade represents a 16.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Atkore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in shares of Atkore by 2.8% in the 1st quarter. Cetera Investment Advisers now owns 5,212 shares of the company's stock valued at $307,000 after purchasing an additional 143 shares during the last quarter. California State Teachers Retirement System lifted its stake in Atkore by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company's stock valued at $2,333,000 after acquiring an additional 214 shares during the period. Adams Wealth Management lifted its position in Atkore by 0.5% during the fourth quarter. Adams Wealth Management now owns 40,726 shares of the company's stock valued at $2,576,000 after purchasing an additional 220 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Atkore by 15.4% in the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company's stock worth $127,000 after buying an additional 240 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in 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 purchasing an additional 246 shares in 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.

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