Atkore (NYSE:ATKR) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Atkore (NYSE:ATKR) from a buy rating to a hold rating in a research note released on Saturday.

ATKR has been the topic of a number of other reports. Royal Bank Of Canada set a $76.00 target price on Atkore in a research report on Thursday. Citigroup boosted their price objective on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated 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 issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Atkore presently has an average rating of “Hold” and an average target price of $138.33.

Atkore Stock Up 0.4%

NYSE ATKR opened at $73.45 on Friday. Atkore has a 12 month low of $53.49 and a 12 month high of $90.16. The company has a market capitalization of $2.48 billion, a P/E ratio of -20.52 and a beta of 1.68. The company’s 50 day simple moving average is $77.19 and its 200 day simple moving average is $70.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.64 and a quick ratio of 2.02.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.23. The firm had revenue of $731.38 million for the quarter, compared to analyst estimates 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 quarterly revenue 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. Equities research analysts expect that Atkore will post 4.75 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Atkore’s payout ratio is presently -36.87%.

Insider Activity

In other news, Director Justin A. Kershaw sold 2,799 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director owned 18,610 shares in the company, valued at $1,370,998.70. This represents a 13.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the 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 directly 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 disclosure for this sale is available in the SEC filing. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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