Atkore Inc. manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management. The company offers its products under the Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, Calbond, and Calpipe brands. It serves a group of end markets, including new construction; maintenance, repair, and remodel, as well as infrastructure; diversified industrials; alternative power generation; healthcare; data centers; and government through electrical, industrial, and mechanical contractors, as well as original equipment manufacturers. The company was formerly known as Atkore International Group Inc. and changed its name to Atkore Inc. in February 2021. Atkore Inc. was founded in 1959 and is headquartered in Harvey, Illinois.
Atkore Price Performance
Shares of NYSE:ATKR traded up $1.93 on Thursday, hitting $91.48. The company's stock had a trading volume of 272,297 shares, compared to its average volume of 496,405. The company has a 50-day simple moving average of $92.11 and a 200 day simple moving average of $98.71. Atkore has a 1 year low of $80.04 and a 1 year high of $123.53. The company has a market capitalization of $3.78 billion, a PE ratio of 4.72 and a beta of 2.27. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.77 and a quick ratio of 1.91.
Atkore (NYSE:ATKR - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.85. Atkore had a return on equity of 90.18% and a net margin of 23.50%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the firm posted $3.96 EPS. The company's revenue was up 24.4% compared to the same quarter last year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Credit Suisse Group increased their price target on Atkore from $130.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 3rd. Citigroup increased their price objective on Atkore from $109.00 to $125.00 in a report on Wednesday, May 4th. StockNews.com cut Atkore from a "strong-buy" rating to a "buy" rating in a report on Wednesday, July 27th. Finally, Royal Bank of Canada dropped their price objective on Atkore from $151.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, August 3rd.
Insider Buying and Selling at Atkore
In other Atkore news, CEO William E. Jr. Waltz sold 20,000 shares of the firm's stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $118.65, for a total value of $2,373,000.00. Following the sale, the chief executive officer now owns 39,017 shares of the company's stock, valued at approximately $4,629,367.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.96% of the company's stock.