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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 at $138.90 in the latest trading session, marking a +0.27% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 5.66%.
Heading into today, shares of the company had gained 12.65% over the past month, outpacing the Industrial Products sector's gain of 4.3% and the S&P 500's gain of 3.44% in that time.
Investors will be hoping for strength from Atkore Inc. as it approaches 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.08% higher. Atkore Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Atkore Inc.'s current valuation metrics, including its Forward P/E ratio of 7.77. For comparison, its industry has an average Forward P/E of 8.06, which means Atkore Inc. is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% 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.
Be sure to follow all of these stock-moving metrics, and many 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 at $138.90 in the latest trading session, marking a +0.27% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 5.66%.
Heading into today, shares of the company had gained 12.65% over the past month, outpacing the Industrial Products sector's gain of 4.3% and the S&P 500's gain of 3.44% in that time.
Investors will be hoping for strength from Atkore Inc. as it approaches 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.08% higher. Atkore Inc. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Atkore Inc.'s current valuation metrics, including its Forward P/E ratio of 7.77. For comparison, its industry has an average Forward P/E of 8.06, which means Atkore Inc. is trading at a discount to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.