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Atkore Inc. (ATKR) Outpaces Stock Market Gains: What You Should Know
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Atkore Inc. (ATKR - Free Report) closed at $113.82 in the latest trading session, marking a +0.42% move from the prior day. This move outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.06%.
Prior to today's trading, shares of the company had lost 3.25% over the past month. This has lagged the Industrial Products sector's loss of 2.74% and was narrower than the S&P 500's loss of 3.6% 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 $4.04, down 11.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $820.9 million, down 2.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.60 per share and revenue of $3.63 billion. These totals would mark changes of -32.25% and -7.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Atkore Inc.These recent revisions tend to reflect the evolving nature of short-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. 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.
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. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Atkore Inc. currently has a Forward P/E ratio of 7.76. For comparison, its industry has an average Forward P/E of 7.76, which means Atkore Inc. is trading at a no noticeable deviation to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Outpaces Stock Market Gains: What You Should Know
Atkore Inc. (ATKR - Free Report) closed at $113.82 in the latest trading session, marking a +0.42% move from the prior day. This move outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.06%.
Prior to today's trading, shares of the company had lost 3.25% over the past month. This has lagged the Industrial Products sector's loss of 2.74% and was narrower than the S&P 500's loss of 3.6% 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 $4.04, down 11.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $820.9 million, down 2.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.60 per share and revenue of $3.63 billion. These totals would mark changes of -32.25% and -7.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Atkore Inc.These recent revisions tend to reflect the evolving nature of short-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. 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.
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. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Atkore Inc. currently has a Forward P/E ratio of 7.76. For comparison, its industry has an average Forward P/E of 7.76, which means Atkore Inc. is trading at a no noticeable deviation to the group.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 4, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.