Atkore (NYSE:ATKR) Shares Gap Down – Should You Sell?

Shares of Atkore Inc. (NYSE:ATKR) gapped down before the market opened on Monday . The stock had previously closed at $72.43, but opened at $69.36. Atkore shares last traded at $70.7860, with a volume of 13,220 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research note on Friday, May 1st. Citigroup lifted their price target on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price objective on shares of Atkore from $71.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.67.

Atkore Price Performance

The company’s 50 day moving average price is $77.99 and its 200-day moving average price is $69.73. The company has a market capitalization of $2.39 billion, a PE ratio of -19.66 and a beta of 1.68. The company has a current ratio of 2.64, a quick ratio of 2.02 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, May 5th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.23. Atkore had a positive return on equity of 9.22% and a negative net margin of 4.19%.The business had revenue of $731.38 million for the quarter, compared to analyst estimates of $714.18 million. During the same period last year, the company posted $2.04 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Atkore has set its FY 2026 guidance at 5.050-5.550 EPS. On average, sell-side analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, May 19th. Atkore’s dividend payout ratio (DPR) is -36.87%.

Insider Activity

In related news, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $73.67, for a total transaction of $206,202.33. Following the completion of the sale, the director owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the transaction, the director directly owned 17,063 shares in the company, valued at $1,256,007.43. This trade represents a 16.20% 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

Hedge funds have recently added to or reduced their stakes in the stock. Coliseum Capital Management LLC acquired a new position in shares of Atkore in the 4th quarter worth approximately $51,189,000. Earnest Partners LLC acquired a new stake in shares of Atkore during the 4th quarter valued at approximately $49,571,000. Jefferies Financial Group Inc. bought a new position in Atkore during the third quarter worth $36,525,000. Oslo Pensjonsforsikring AS bought a new position in Atkore during the first quarter worth $22,209,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Atkore in the third quarter worth $21,214,000.

About Atkore

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.