Atkore Inc (NYSE: ATKR) has a higher price-to-earnings ratio of 6.98x compared to its average ratio. ATKR has 36-month beta value of 2.17. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 2 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for ATKR is 35.32M, and currently, short sellers hold a 17.58% ratio of that float. The average trading volume of ATKR on August 23, 2024 was 806.19K shares.
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ATKR) stock’s latest price update
The stock of Atkore Inc (NYSE: ATKR) has increased by 2.04 when compared to last closing price of 97.35. Despite this, the company has experienced a 3.92% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-08-13 that ATKR stock has lost almost half its value in the last 4 months, and is currently trading below its key moving averages. We examine some of the key drivers behind the ongoing weakness. We then touch upon a few reasons why investors can afford to be hopeful at this stage.
ATKR’s Market Performance
Atkore Inc (ATKR) has seen a 3.92% rise in stock performance for the week, with a -26.57% decline in the past month and a -35.00% plunge in the past quarter. The volatility ratio for the week is 2.50%, and the volatility levels for the past 30 days are at 4.26% for ATKR. The simple moving average for the past 20 days is -8.10% for ATKR’s stock, with a -33.29% simple moving average for the past 200 days.
Analysts’ Opinion of ATKR
Many brokerage firms have already submitted their reports for ATKR stocks, with RBC Capital Mkts repeating the rating for ATKR by listing it as a “Sector Perform.” The predicted price for ATKR in the upcoming period, according to RBC Capital Mkts is $100 based on the research report published on August 07, 2024 of the current year 2024.
KeyBanc Capital Markets, on the other hand, stated in their research note that they expect to see ATKR reach a price target of $175. The rating they have provided for ATKR stocks is “Overweight” according to the report published on July 10th, 2024.
B. Riley Securities gave a rating of “Buy” to ATKR, setting the target price at $146 in the report published on December 13th of the previous year.
ATKR Trading at -21.01% from the 50-Day Moving Average
After a stumble in the market that brought ATKR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -49.05% of loss for the given period.
Volatility was left at 4.26%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares sank -28.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -30.66% lower at present.
During the last 5 trading sessions, ATKR rose by +4.23%, which changed the moving average for the period of 200-days by -23.79% in comparison to the 20-day moving average, which settled at $106.12. In addition, Atkore Inc saw -37.91% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ATKR starting from DAVID P JOHNSON, who proposed sale 13,930 shares at the price of $96.37 back on Aug 20 ’24. After this action, DAVID P JOHNSON now owns shares of Atkore Inc, valued at $1,342,490 using the latest closing price.
DAVID P JOHNSON, the Former Officer of Atkore Inc, proposed sale 14,881 shares at $94.08 during a trade that took place back on Aug 15 ’24, which means that DAVID P JOHNSON is holding shares at $1,399,940 based on the most recent closing price.
Stock Fundamentals for ATKR
Current profitability levels for the company are sitting at:
- 0.22 for the present operating margin
- 0.35 for the gross margin
The net margin for Atkore Inc stands at 0.16. The total capital return value is set at 0.29. Equity return is now at value 35.98, with 18.51 for asset returns.
Based on Atkore Inc (ATKR), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at 0.76. The debt to equity ratio resting at 0.5. The interest coverage ratio of the stock is 20.56.
Currently, EBITDA for the company is 893.49 million with net debt to EBITDA at 0.75. When we switch over and look at the enterprise to sales, we see a ratio of 1.28. The receivables turnover for the company is 6.52for trailing twelve months and the total asset turnover is 1.11. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.26.
Conclusion
To put it simply, Atkore Inc (ATKR) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
