Atkore Inc. (ATKR) Gains But Lags Market: What You Should Know
Atkore Inc. (ATKR) closed at $131.94 in the latest trading session, marking a +0.18% move from the prior day. This move lagged the S&P 500's daily gain of 0.33%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.92%.
Prior to today's trading, shares of the company had gained 0.76% over the past month. This has outpaced the Industrial Products sector's loss of 1.2% and lagged the S&P 500's gain of 5.67% in that time.
Wall Street will be looking for positivity from Atkore Inc. as it approaches its next earnings report date. The company is expected to report EPS of $4.11, down 23.75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $910.2 million, down 7.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.71 per share and revenue of $3.65 billion. These totals would mark changes of -22.46% and -6.66%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Atkore Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Atkore Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Atkore Inc.'s current valuation metrics, including its Forward P/E ratio of 7.88. This represents a discount compared to its industry's average Forward P/E of 8.52.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
