Atkore Inc. (ATKR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Atkore Inc. (ATKR) closed at $152.32, marking a -0.2% move from the previous day. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 2.93%.
Prior to today's trading, shares of the company had gained 25.64% over the past month. This has outpaced the Industrial Products sector's gain of 10.05% and the S&P 500's gain of 4.22% in that time.
Atkore Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Atkore Inc. to post earnings of $4.26 per share. This would mark a year-over-year decline of 29.82%. Meanwhile, our latest consensus estimate is calling for revenue of $939.4 million, down 11.51% from the prior-year quarter.
ATKR's full-year Zacks Consensus Estimates are calling for earnings of $17.82 per share and revenue of $3.6 billion. These results would represent year-over-year changes of -17.31% and -7.95%, respectively.
It is also important to note the recent changes to analyst estimates for Atkore Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Atkore Inc. is currently a Zacks Rank #2 (Buy).
Digging into valuation, Atkore Inc. currently has a Forward P/E ratio of 8.56. This represents a no noticeable deviation compared to its industry's average Forward P/E of 8.56.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Atkore Inc. (ATKR) : Free Stock Analysis Report
