Atkore Inc (NYSE:ATKR) price on Friday, February 28, fall -1.27% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $61.50.
A look at the stock’s price movement, the close in the last trading session was $62.29. The PE ratio in trailing twelve months stood at 5.95. Turning to its 52-week performance, $194.98 and $62.24 were the 52-week high and 52-week low respectively. Overall, ATKR moved -23.65% over the past month.
Atkore Inc’s market cap currently stands at around $2.12 billion, with investors looking forward to this quarter’s earnings report slated for in April. The company has a Forward Dividend ratio of 1.28, with its dividend yield at 2.08%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 692.5M for the company’s revenue for the quarter, with a low and high estimate of 674M and 699.9M respectively. The average forecast suggests down to a -12.66% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.86B, representing a -10.59% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ATKR is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 6 recommend ATKR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ATKR’s current price about -9.64% and -20.68% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.64, while 7-day volatility ratio is 3.40% and 4.36% in the 30-day chart. Further, Atkore Inc (ATKR) has a beta value of 2.23, and an average true range (ATR) of 2.96. Analysts have given the company’s stock an average 52-week price target of $105, forecast between a low of $102 and high of $130. Looking at the price targets, the low is -65.85% off current price level while to achieve the yearly target high, price needs to move -111.38%. Nonetheless, investors will most likely welcome a -70.73% jump to $105 which is the analysts’ median price.
If we refocus on Atkore Inc (NYSE:ATKR), historical trading data shows that trading volumes averaged 640.02K over the past 3 months. The company’s latest data on shares outstanding shows there are 34.40 million shares.
The 1.41% of Atkore Inc’s shares are in the hands of company insiders while institutional holders own 109.54% of the company’s shares. Current price change has pushed the stock -26.30% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ATKR stock continues to rise going into the next quarter.
