Analysts Bump Up Atkore Price Target After Solid Q4 Results

Analysts have raised the price target on Atkore Inc ATKR following its Q4 results. The company's sales and earnings topped the Wall Street view.

• RBC Capital analyst Deane Dray raised the price target on Atkore to $129 (an upside for 14%) from $99 and maintained an Outperform rating on the shares after its Q4 results.
• Dray says the company reported "another impressive beat and raise," with the ongoing supply/demand imbalance continuing to position Atkore as one of the few national suppliers of PVC and metal conduit with a capacity to meet on-time demand for construction and retrofits.
• Dray adds that the valuation on Atkore remains "exceptionally attractive," with one of the lowest EBITDA multiples in his coverage.
• Citi analyst Andrew Kaplowitz raised the price target to $123 (an upside of 9%) from $102 and maintained a Neutral rating on the shares.
• Kaplowitz mentions, strong end-market trends, strong pricing, and continued execution drove relatively solid fiscal Q4 results.
• Credit Suisse analyst John Walsh raised the price target to $121 (an upside of 7%) from $107 and maintained an Outperform rating on the shares.
• Also read, Atkore Stock Gains After Q4 Beat, Stellar FY22 Outlook.
• Price Action: ATKR shares are trading higher by 0.64% at $112.31 on the last check Friday.