Benzinga | Nov 19, 2021 11:36AM EST

Analysts Bump Up Atkore Price Target After Solid Q4 Results

Analysts have raised the price target on Atkore Inc (NYSE: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.