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Is Atkore Inc. (ATKR) a good stock to buy now?

Atkore Inc. (NYSE: ATKR) is -10.54% lower on its value in year-to-date trading and has touched a low of $73.52 and a high of $123.53 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ATKR stock was last observed hovering at around $99.27 in the last trading session, with the day’s gains setting it 0.2% off its average median price target of $131.00 for the next 12 months. It is also 34.13% off the consensus price target high of $151.00 offered by 4 analysts, but current levels are -2.55% lower than the price target low of $97.00 for the same period.

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Currently trading at $99.47, the stock is 11.63% and 4.38% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.51 million and changing 0.20% at the moment leaves the stock -1.37% off its SMA200. ATKR registered 32.43% gain for a year compared to 6-month loss of 2.99%. The firm has a 50-day simple moving average (SMA 50) of $1.30 and a 200-day simple moving average (SMA200) of $3.89.

The stock witnessed a 19.83% gain in the last 1 month and extending the period to 3 months gives it a 3.51%, and is 10.74% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.06% over the week and 3.83% over the month.

Atkore Inc. (ATKR) has around 4000 employees, a market worth around $4.03B and $3.60B in sales. Current P/E ratio is 5.72 and Fwd P/E is 7.79. Profit margin for the company is 22.30%. Distance from 52-week low is 35.30% and -19.48% from its 52-week high. The company has generated returns on investments over the last 12 months (38.10%).

Atkore Inc. (ATKR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Atkore Inc. (ATKR) is a “Overweight”. 4 analysts offering their recommendations for the stock have an average rating of 2.20, where 1 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Atkore Inc. is expected to release its quarterly report on 11/17/2022.The EPS is expected to grow by 293.10% this year.

Atkore Inc. (ATKR) Top Institutional Holders

The shares outstanding are 44.70M, and float is at 42.83M with Short Float at 4.81%.

Atkore Inc. (ATKR) Insider Activity

A total of 15 insider transactions have happened at Atkore Inc. (ATKR) in the last six months, with sales accounting for 12 and purchases happening 3 times. The most recent transaction is an insider sale by Waltz William E Jr.,the company’sPresident and CEO. SEC filings show that Waltz William E Jr. sold 20,000 shares of the company’s common stock on Jun 06 at a price of $118.65 per share for a total of $2.37 million. Following the sale, the insider now owns 39017.0 shares.

Atkore Inc. disclosed in a document filed with the SEC on May 06 that Kelly Daniel S (VP, General Counsel and Sec.) sold a total of 15,000 shares of the company’s common stock. The trade occurred on May 06 and was made at $115.22 per share for $1.73 million. Following the transaction, the insider now directly holds 31644.0 shares of the ATKR stock.

Still, SEC filings show that on May 06, Lamps Mark F. (Pres. Safety & Infrastructure) disposed off 845 shares at an average price of $113.64 for $96026.0. The insider now directly holds 21,007 shares of Atkore Inc. (ATKR).

Atkore Inc. (ATKR): Who are the competitors?

The company’s main competitors (and peers) include Novanta Inc. (NOVT) that is 8.87% higher over the past 12 months.

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