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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 $113.53, moving +0.78% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.75%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Coming into today, shares of the company had lost 7.78% in the past month. In that same time, the Industrial Products sector lost 2.37%, while the S&P 500 lost 4.4%.
Atkore Inc. will be looking to display strength as it nears its next earnings release. On that day, Atkore Inc. is projected to report earnings of $4.04 per share, which would represent a year-over-year decline of 11.79%. 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. 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 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 a Zacks Rank #3 (Hold).
Looking at its valuation, Atkore Inc. is holding a Forward P/E ratio of 7.72. Its industry sports an average Forward P/E of 7.72, so we one might conclude that Atkore Inc. is trading at a no noticeable deviation comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% 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 the most recent trading day at $113.53, moving +0.78% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.75%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Coming into today, shares of the company had lost 7.78% in the past month. In that same time, the Industrial Products sector lost 2.37%, while the S&P 500 lost 4.4%.
Atkore Inc. will be looking to display strength as it nears its next earnings release. On that day, Atkore Inc. is projected to report earnings of $4.04 per share, which would represent a year-over-year decline of 11.79%. 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. 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 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 a Zacks Rank #3 (Hold).
Looking at its valuation, Atkore Inc. is holding a Forward P/E ratio of 7.72. Its industry sports an average Forward P/E of 7.72, so we one might conclude that Atkore Inc. is trading at a no noticeable deviation comparatively.
The Wire and Cable Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% 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.