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Atkore Inc. (ATKR) Gains But Lags Market: What You Should Know
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Atkore Inc. (ATKR - Free Report) closed the most recent trading day at $115.10, moving +0.24% from the previous trading session. This move lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Prior to today's trading, shares of the company had lost 7% over the past month. This has lagged the Industrial Products sector's loss of 3.81% and the S&P 500's loss of 5.98% 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 $4.04, down 11.79% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $820.9 million, down 2.37% from the year-ago period.
ATKR's full-year Zacks Consensus Estimates are calling for earnings of $14.60 per share and revenue of $3.63 billion. These results would represent year-over-year changes of -32.25% and -7.37%, respectively.
Any recent changes to analyst estimates for Atkore Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Atkore Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Atkore Inc. has a Forward P/E ratio of 7.87 right now. This represents a discount compared to its industry's average Forward P/E of 8.65.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Atkore Inc. (ATKR) Gains But Lags Market: What You Should Know
Atkore Inc. (ATKR - Free Report) closed the most recent trading day at $115.10, moving +0.24% from the previous trading session. This move lagged the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Prior to today's trading, shares of the company had lost 7% over the past month. This has lagged the Industrial Products sector's loss of 3.81% and the S&P 500's loss of 5.98% 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 $4.04, down 11.79% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $820.9 million, down 2.37% from the year-ago period.
ATKR's full-year Zacks Consensus Estimates are calling for earnings of $14.60 per share and revenue of $3.63 billion. These results would represent year-over-year changes of -32.25% and -7.37%, respectively.
Any recent changes to analyst estimates for Atkore Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Atkore Inc. is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Atkore Inc. has a Forward P/E ratio of 7.87 right now. This represents a discount compared to its industry's average Forward P/E of 8.65.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.