Atkore's (ATKR) "Sector Perform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its "sector perform" rating on Atkore and maintained a $252 price target, implying significant upside from the current share price.
• Other analysts showed mixed views on the stock, with Weiss Ratings reaffirming a sell rating, Citigroup raising its target to $86 with a neutral rating, and Wall Street Zen upgrading Atkore to buy. Overall, MarketBeat shows a consensus Hold rating and an average price target of $138.33.
• Atkore recently posted better-than-expected quarterly results, earning $1.23 per share versus the $1.00 estimate and generating $731.38 million in revenue above forecasts. Two directors also sold shares in May, while several institutional investors increased their stakes.

Atkore (NYSE:ATKR - Get Free Report)'s stock had its "sector perform" rating reiterated by equities researchers at Royal Bank Of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $252.00 price target on the stock. Royal Bank Of Canada's target price points to a potential upside of 244.30% from the company's current price.

A number of other brokerages have also weighed in on ATKR. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Atkore in a research note on Friday, May 1st. Citigroup increased their price target on shares of Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $138.33.

Atkore Price Performance

Shares of Atkore stock opened at $73.19 on Thursday. 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 has a market cap of $2.47 billion, a PE ratio of -20.44 and a beta of 1.68. The business has a 50 day moving average of $77.21 and a 200 day moving average of $70.18. Atkore has a 52 week low of $53.49 and a 52 week high of $90.16.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.23. The business had revenue of $731.38 million for the quarter, compared to analysts' expectations of $714.18 million. Atkore had a negative net margin of 4.19% and a positive return on equity of 9.22%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.04 earnings per share. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. As a group, equities research analysts forecast that Atkore will post 4.75 earnings per share for the current year.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 3,299 shares of the business'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 value of $242,839.39. Following the sale, the director directly owned 17,063 shares of the company's stock, valued at $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 is available through the SEC website. Also, Director Justin A. Kershaw sold 2,799 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 18,610 shares in the company, valued at approximately $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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATKR. Ausbil Investment Management Ltd grew its stake in shares of Atkore by 219.6% in the second quarter. Ausbil Investment Management Ltd now owns 35,147 shares of the company's stock worth $2,546,000 after acquiring an additional 24,149 shares during the last quarter. Baron Wealth Management LLC raised its position in shares of Atkore by 15.7% in the 2nd quarter. Baron Wealth Management LLC now owns 4,288 shares of the company's stock worth $326,000 after purchasing an additional 581 shares during the last quarter. Empowered Funds LLC raised its position in shares of Atkore by 8.3% in the 1st quarter. Empowered Funds LLC now owns 133,516 shares of the company's stock worth $7,865,000 after purchasing an additional 10,267 shares during the last quarter. Bank of America Corp DE boosted its stake in Atkore by 10.1% in the 1st quarter. Bank of America Corp DE now owns 462,278 shares of the company's stock worth $27,233,000 after purchasing an additional 42,593 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Atkore by 23.0% in the 1st quarter. Janus Henderson Group PLC now owns 17,312 shares of the company's stock worth $1,019,000 after purchasing an additional 3,234 shares in the last quarter.

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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