Atkore (NYSE:ATKR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Atkore from “hold” to “buy,” adding to a mixed analyst backdrop that still leaves the stock with a consensus “hold” rating.
• Atkore reported better-than-expected quarterly results, posting EPS of $1.23 versus the $1.00 estimate and revenue of $731.4 million, up 4.2% year over year.
• Shares were up 4.6% to $76.44, while recent insider sales by two directors and continued institutional buying highlighted active trading around the stock.

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

A number of other research analysts also recently issued reports on the company. Citigroup raised their price target on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on Atkore in a research note on Thursday, July 16th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Atkore in a report on Friday, May 1st. One equities 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $138.33.

Atkore Stock Up 4.6%

NYSE:ATKR opened at $76.44 on Friday. Atkore has a twelve month low of $53.49 and a twelve month high of $90.16. The company has a market cap of $2.58 billion, a PE ratio of -21.35 and a beta of 1.68. 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 $77.10 and its two-hundred day moving average is $70.56.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $731.38 million during the quarter, compared to the consensus estimate of $714.18 million. During the same quarter in the prior year, the firm posted $2.04 earnings per share. Atkore's revenue for the quarter was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Analysts anticipate that Atkore will post 4.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Wilbert W. James, Jr. sold 3,299 shares of the company's stock in a transaction that occurred on 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 owned 17,063 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction on 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 approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Atkore

Several hedge funds have recently made changes to their positions in ATKR. First Trust Advisors LP boosted its stake in shares of Atkore by 18.7% during the 4th quarter. First Trust Advisors LP now owns 1,385,741 shares of the company's stock worth $87,648,000 after acquiring an additional 218,358 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Atkore by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company's stock valued at $72,341,000 after purchasing an additional 97,514 shares in the last quarter. LSV Asset Management increased its stake in Atkore by 5.8% in the 4th quarter. LSV Asset Management now owns 960,450 shares of the company's stock valued at $60,748,000 after purchasing an additional 52,850 shares in the last quarter. Coliseum Capital Management LLC acquired a new position in Atkore during the fourth quarter worth $51,189,000. Finally, Earnest Partners LLC acquired a new position in Atkore during the fourth quarter worth $49,571,000.

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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