Atkore Inc. [ATKR] Stock trading around $83.93 per share: What’s Next?

Atkore Inc. [NYSE: ATKR] price plunged by -3.35 percent to reach at -$2.91. The company report on August 31, 2022 that Atkore Inc. Announces Acquisition of Cascade Poly Pipe & Conduit and Northwest Polymers.


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Atkore Inc. (“Atkore”), today announced the acquisitions of two separate but related Oregon-based companies doing business as Cascade Poly Pipe & Conduit (“Cascade”) and Northwest Polymers. Cascade is a manufacturer specializing in smooth wall HDPE conduit made from recycled materials, primarily serving the telecommunications, utility and datacom markets (https://www.cascadepoly.com/); and Northwest Polymers is a leading recycler of PVC, HDPE and other plastics and a strategic supply partner to Cascade and other manufacturers in the region (https://nwpoly.com/).

According to John Pregenzer, President of Atkore’s Electrical business, “The acquisition of Cascade strengthens Atkore’s product portfolio, establishes a HDPE conduit manufacturing presence in the Pacific Northwest to better serve customers, and enables us to meet growing demands resulting from the expansion of 5G wireless networks and the U.S. infrastructure bill funding supporting broadband to rural and underserved communities. Equally important, the acquisition of Northwest Polymers supports Atkore’s environment, social and governance commitment to address sustainability throughout the supply chain.”.

A sum of 376901 shares traded at recent session while its average daily volume was at 461.54K shares. Atkore Inc. shares reached a high of $88.09 and dropped to a low of $83.88 until finishing in the latest session at $83.93.

The one-year ATKR stock forecast points to a potential upside of 32.45. The average equity rating for ATKR stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Atkore Inc. [ATKR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATKR shares is $124.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATKR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CJS Securities have made an estimate for Atkore Inc. shares, keeping their opinion on the stock as Market Outperform, with their previous recommendation back on March 18, 2021. The new note on the price target was released on January 04, 2021, representing the official price target for Atkore Inc. stock. Previously, the target price had yet another raise from $39 to $46, while RBC Capital Mkts kept a Outperform rating on ATKR stock. On March 26, 2020, analysts decreased their price target for ATKR shares from 44 to 22.

The Average True Range (ATR) for Atkore Inc. is set at 3.25, with the Price to Sales ratio for ATKR stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 4.36. Price to Free Cash Flow for ATKR in the course of the last twelve months was 9.53 with Quick ratio for the last quarter at 1.90.

ATKR Stock Performance Analysis:

Atkore Inc. [ATKR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.31. With this latest performance, ATKR shares dropped by -6.80% in over the last four-week period, additionally sinking by -17.10% over the last 6 months – not to mention a drop of -9.11% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATKR stock in for the last two-week period is set at 39.55, with the RSI for the last a single of trading hit 35.67, and the three-weeks RSI is set at 42.05 for Atkore Inc. [ATKR]. The present Moving Average for the last 50 days of trading for this stock 88.91, while it was recorded at 85.78 for the last single week of trading, and 99.99 for the last 200 days.

Insight into Atkore Inc. Fundamentals:

Atkore Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.80.

ATKR Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATKR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Atkore Inc. go to -6.43%.

Atkore Inc. [ATKR] Insider Position Details

There are presently around $3,422 million, in the hands of institutional investors. The top three institutional holders of ATKR stocks are: VANGUARD GROUP INC with ownership of 4,878,694, which is approximately -3.164% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 3,334,675 shares of the stock with an approximate value of $279.88 million in ATKR stocks shares; and FMR LLC, currently with $269.96 million in ATKR stock with ownership of nearly -7.09% of the company’s market capitalization.

155 institutional holders increased their position in Atkore Inc. [NYSE:ATKR] by around 3,711,133 shares. Additionally, 176 investors decreased positions by around 4,373,939 shares, while 35 investors held positions by with 32,691,764 shares. The mentioned changes placed institutional holdings at 40,776,836 shares, according to the latest SEC report filing. ATKR stock had 43 new institutional investments in for a total of 345,067 shares, while 45 institutional investors sold positions of 498,248 shares during the same period.

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