Atkore Inc (NYSE: ATKR): To Buy Or Not To Buy, That Is The Question

Atkore Inc (ATKR) concluded trading on Thursday at a closing price of $190.36, with 0.48 million shares of worth about $91.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 28.27% during that period and on March 28, 2024 the price saw a gain of about 2.31%. Currently the company’s common shares owned by public are about 37.32M shares, out of which, 36.24M shares are available for trading.

Stock saw a price change of 2.20% in past 5 days and over the past one month there was a price change of 16.12%. Year-to-date (YTD), ATKR shares are showing a performance of 18.98% which increased to 39.97% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $116.14 but also hit the highest price of $189.39 during that period. The average intraday trading volume for Atkore Inc shares is 428.15K. The stock is currently trading 8.47% above its 20-day simple moving average (SMA20), while that difference is up 18.51% for SMA50 and it goes to 27.67% higher than SMA200.

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Atkore Inc (NYSE: ATKR) currently have 37.32M outstanding shares and institutions hold larger chunk of about 108.08% of that.

The stock has a current market capitalization of $7.00B and its 3Y-monthly beta is at 2.18. PE ratio of stock for trailing 12 months is 11.41, while it has posted earnings per share of $16.68 in the same period. It has Quick Ratio of 1.99 while making debt-to-equity ratio of 0.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ATKR, volatility over the week remained 2.38% while standing at 2.91% over the month.

Analysts are in expectations that Atkore Inc (ATKR) stock would likely to be making an EPS of $3.67 in the current quarter, while forecast for next quarter EPS is $4.62 and it is $17.98 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.6 which is $3.7 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4.87 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.37% while it is estimated to increase by 5.69% in next year. EPS is likely to shrink at an annualized rate of -2.51% for next 5-years, compared to annual growth of 47.42% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on December 13, 2022 offering a Buy rating for the stock and assigned a target price of $146 to it. Coverage by Loop Capital stated Atkore Inc (ATKR) stock as a Buy in their note to investors on October 19, 2022, suggesting a price target of $110 for the stock. On March 18, 2021, CJS Securities Initiated their recommendations, while on January 04, 2021, Credit Suisse Upgrade their ratings for the stock with a price target of $54. Stock get an Outperform rating from RBC Capital Mkts on November 25, 2020.

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