Jeri L. Isbell, a director at Atkore Inc. (NYSE:ATKR), a $3.28 billion market cap company, recently sold 3,353 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at an approximate weighted average price of $94.0262, totaling $315,269. Following this transaction, Isbell holds 25,584.5266 shares, which includes unvested or deferred restricted stock units and accrued dividend equivalents. The sale was executed at prices ranging from $93.91 to $94.10 per share. According to InvestingPro data, Atkore trades at a P/E ratio of 7.34 and maintains a GOOD financial health score. The stock currently appears undervalued based on InvestingPro's Fair Value analysis, with 12 additional real-time insights available to subscribers.
In other recent news, Atkore International Group Inc (NYSE:ATKR). reported mixed financial results for the fourth quarter of 2024, with net sales reaching $3.2 billion, adjusted earnings per share at $14.48, and adjusted EBITDA of $772 million. These developments come amidst the company's strategic growth initiatives focusing on solar torque tubes, water-related products, global mega projects, and regional service centers. For the fiscal year 2025, Atkore anticipates net sales between $2.9 billion and $3.2 billion, with adjusted EBITDA projected to be between $475 million and $525 million.
Loop Capital, RBC Capital Markets, and B.Riley have recently revised their outlooks on Atkore. Loop Capital reaffirmed a Buy rating while adjusting the price target to $115, citing potential long-term growth drivers. RBC Capital Markets maintained a Sector Perform rating, but reduced the price target to $93.00 due to an operating miss and a significant reduction in Atkore's forecasted EBITDA for fiscal year 2025. B.Riley downgraded the stock from Buy to Neutral and significantly reduced the price target to $84.00, reflecting a cautious stance due to anticipated pricing pressures.
These recent developments highlight the dynamic and challenging environment in which Atkore operates, with increased competition and pricing pressures in both PVC and steel conduit markets. Despite these challenges, Atkore has shown commitment to shareholder returns, having repurchased over $1.3 billion in stock and introduced a quarterly cash dividend.
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