With a short percentage of shares outstanding of 2.52%, Atkore Inc. (NYSE:ATKR) is among the 7 Best Electrical Contracting Stocks to Buy for Data Hall Fit-outs.
On May 6, RBC Capital raised its price target on Atkore Inc. (NYSE:ATKR) to $82 from $71 while maintaining a Sector Perform rating on the shares
The firm highlighted the company’s solid second-quarter operating performance, noting its first year-over-year positive pricing environment in 13 quarters, supported by copper and aluminum inflation pass-through and improving mid-single-digit volume growth. On the same day, Citigroup raised its price target on Atkore to $86 from $74 while reiterating a Neutral rating on the stock. On May 5, Atkore Inc. (NYSE:ATKR) reported second-quarter revenue of $731.4 million, exceeding consensus estimates of $710.93 million.
President and Chief Executive Officer Bill Waltz stated that the company delivered approximately 5% year-over-year organic volume growth alongside solid productivity improvements, while net sales, Adjusted EBITDA, and Adjusted EPS all increased sequentially from the prior quarter. Management also highlighted the completion of previously announced plant closures and the divestiture of its HDPE and Belgium-based surface protection businesses, emphasizing that these actions align with its strategy of strengthening its focus on the electrical infrastructure market and supporting long-term shareholder value creation. Founded in 1959 and headquartered in Harvey, Illinois, Atkore Inc. (NYSE:ATKR) is an essential electrical infrastructure and safety stock deeply involved in data center fit-outs.