RBC Capital analyst Deane Dray lowered the firm’s price target on Atkore (ATKR) to $93 from $99 and keeps a Sector Perform rating on the shares after its Q4 earnings miss. Worsened negatives for the company included a new PVC conduit competitor, further import pressures in both PVC and steel conduit, and the ongoing startup inefficiencies at Hobart, the analyst tells investors in a research note. RBC adds that price normalization might also now be pushed out to FY26, though the post-earnings stock reaction suggests “some glimmer of hope” that a bottoming might be forming.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
