Credit Suisse took its Atkore International Group Inc. [NYSE:ATKR] rating to the equivalent of Outperform from Neutral, and the price target to $54, in a research note dated January 4, 2021. That figure represents around a 31.35% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with RBC Capital Mkts’s analysts upgrading the shares from ”a Sector perform” rating to “an Outperform” rating in a research note to investors issued in late November. Meanwhile, RBC Capital Mkts had lowered its rating on ATKR to ”Sector perform” from the earlier “an Outperform”, in a research note produced for clients March 26, 2020. In addition, there was a downgrade from Citigroup on September 07, 2018. The rater changed ATKR from “a Buy” to “a Neutral”.
Is Atkore International Group Inc. [NYSE:ATKR] a Good Buy Right Now?
It should be noted that ATKR technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 56% Buy in the past month. Data from Atkore International Group Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.44 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.51 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.42 million shares.
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ATKR Price Performance
On Wall Street, Atkore International Group Inc. [NYSE:ATKR] finished Thursday’s session down -0.22% at $41.11. The stock went up to $41.67 at the same session while its lowest single day price was $40.40. In the last five days, it saw a rise of about 1.68%, Atkore International Group Inc. shares gained by almost 1.61% since the beginning of the year. However, the share price has dropped to as low as -8.62% below its one year high. On 12/16/20, the company shares recorded $44.99, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/19/20, the same year at $10.85. The company’s shares have inclined by 1.98% in the past year. The 50-day SMA achieved is $33.72 while the 200-day SMA is $27.43. Volume gained to 0.21 million from 0.16 million in the previous session.
Atkore International Group Inc. [ATKR] Valuation Measures
Notably, Atkore International Group Inc. [ATKR] stock can be classified as a good candidate in the listing of underestimated low-priced Specialty Industrial Machinery companies to purchase soonest possible with the prevailing 12-month PE ratio of 13.23. The measure means the stock is exchanging at a discount as compared to the 25.81x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.11 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.35 which means ATKR serve an attractive investment opportunity compared to its competitors.
ATKR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 40.45 level, and in case of violation of this particular level, it will cause more drop to 39.79 level. On the upper level, 42.33 is still the key resistance. The stock may increase to the subsequent resistance at 41.72. The Relative Strength Index (RSI) pinned on the 14-day chart is 59.15, implying a neutral technical stance while the MACD stands at -1.11, meaning price will decrease in the next trading period. Percent R indicator moved to 72.66%, implying bearish price movement. Stochastic %K at 21.60% suggest selling the stock.
What is the short interest in Atkore International Group Inc.?
Short interest in the Atkore International Group Inc. stock has surged, increasing by 0.2 million shares to total 0.71 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.91 million, data from Yahoo Finance shows. The decrease of -27.69% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.70% of the overall float for the stock.
Atkore International Group Inc.’s Biggest Shareholders: Who Owns Atkore International Group Inc. [ATKR]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 4,864,334 shares or roughly 10.26% of the outstanding ATKR shares. This means their shares have reduced by -239,431 from the 4,864,334 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Fidelity Management & Research Co updated stake is worth $146,257,521. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -3.24% stake valued at $119,470,192 while Wells Capital Management, Inc. added theirs at $100,740,458. During the last quarter, BlackRock Fund Advisors liquidated -102,519 of its shares in Atkore International Group Inc. while Wells Capital Management, Inc. bought 199,446 shares. The LSV Asset Management’s holdings currently number 2,190,104 shares at $90035175.44. According to the firm’s last 13F report, Macquarie Investment Management B shares in the company at filing stood at 2,124,971 shares, roughly $82,831,370.
ATKR Earnings Forecast For The Current Quarter
Atkore International Group Inc. [ATKR] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $457.06M and an earnings per share of $1.21 for Dec 2020. Looking further ahead, the company is expected to report revenue of $470.95M at an EPS of $0.98 for Mar 2021.
ATKR Earnings Estimates For The Current Year
For the financial year, Atkore International Group Inc. [NYSE:ATKR] is expected to bring in revenue of $1.85B. The returns are nearly $80.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 4.12, higher than that of FY20 by $0.34. Estimates put this year’s earnings growth at 9.00%, 7.30% for the next, and at an annual 1.40% over the next 5-year period. As for sales, forecasts are for an increase of 4.80% in the current fiscal year and a further 3.90% over the following year.