Atkore Inc. (ATKR) Gains But Lags Market: What You Should Know
Atkore Inc. (ATKR) closed at $155.94 in the latest trading session, marking a +0.36% move from the prior day. This change lagged the S&P 500's 1.23% gain on the day. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the company had gained 29.65% over the past month, outpacing the Industrial Products sector's gain of 10.67% and the S&P 500's gain of 4.67% in that time.
Atkore Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $4.26, down 29.82% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $939.4 million, down 11.51% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $17.82 per share and revenue of $3.6 billion. These totals would mark changes of -17.31% and -7.95%, respectively, from last year.
Any recent changes to analyst estimates for Atkore Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Atkore Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Atkore Inc. currently has a Forward P/E ratio of 8.72. Its industry sports an average Forward P/E of 8.72, so we one might conclude that Atkore Inc. is trading at a no noticeable deviation comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Atkore Inc. (ATKR) : Free Stock Analysis Report
