Atkore’s (ATKR) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of Atkore (NYSE:ATKR) in a research report report published on Thursday morning,Benzinga reports. They currently have a $252.00 target price on the stock.

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

Atkore Price Performance

NYSE ATKR 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. Atkore has a 12-month low of $53.49 and a 12-month high of $90.16. The company has a market capitalization of $2.47 billion, a PE ratio of -20.44 and a beta of 1.68. The firm’s 50 day moving average is $77.21 and its 200-day moving average is $70.18.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, topping 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 business had revenue of $731.38 million during the quarter, compared to analysts’ expectations of $714.18 million. During the same quarter in the prior year, the company posted $2.04 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. Equities research analysts anticipate that Atkore will post 4.75 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Atkore’s dividend payout ratio (DPR) is -36.87%.

Insider Transactions at Atkore

In other Atkore 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 transaction of $242,839.39. Following the transaction, the director owned 17,063 shares of the company’s stock, valued at $1,256,007.43. The trade was a 16.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of the firm’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 sale, the director directly owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently added to or reduced their stakes in ATKR. Coliseum Capital Management LLC acquired a new position in shares of Atkore in the fourth quarter valued at $51,189,000. Earnest Partners LLC bought a new stake in shares of Atkore during the 4th quarter worth about $49,571,000. Oslo Pensjonsforsikring AS acquired a new position in Atkore in the 1st quarter valued at about $22,209,000. Jacobs Levy Equity Management Inc. bought a new position in Atkore in the 3rd quarter valued at about $21,214,000. Finally, New York State Common Retirement Fund lifted its position in Atkore by 1,166.1% during the fourth quarter. New York State Common Retirement Fund now owns 345,828 shares of the company’s stock worth $21,874,000 after acquiring an additional 318,514 shares during 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.