Atkore price target lowered to $115 from $130 at Loop Capital

Loop Capital lowered the firm’s price target on Atkore (ATKR) to $115 from $130 and keeps a Buy rating on the shares after its Q4 earnings miss and below-consensus outlook. The company appears to have taken a sober stance to incrementally conservative approach when providing official FY25 EBITDA guidance, with the midpoint of EBITDA margin guidance that assumes profitability is nominally below the pre-pandemic level given the normalization of PVC pricing and increased competitive pressure around both steel and PVC conduit, the analyst tells investors in a research note.