Atkore Inc. engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management. The company offers its products under the Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, United Poly Systems, Calbond, and Calpipe. It serves various end markets, including new construction; maintenance, repair, and remodel; infrastructure; diversified industrials; alternative power generation; healthcare; data centers; and governments through electrical, industrial, and mechanical contractors, as well as original equipment manufacturers. The company was formerly known as Atkore International Group Inc. and changed its name to Atkore Inc. in February 2021. Atkore Inc. was founded in 1959 and is headquartered in Harvey, Illinois.

Atkore Inc.

(RTTNews) - While reporting third-quarter financial results, Atkore Inc. (ATKR) also announced Chief Executive Officer William Waltz's decision to retire from the company.
However, Waltz plans to serve in his roles until a successor is appointed.
He stated, "I am committed to continuing to execute our strategy and drive improved performance for the benefit of all our stakeholders."
The company has initiated its succession plan process to identify the company's next CEO.
In the pre-market hours, ATKR is trading at $77.11, up 0.73 percent on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Atkore CEO William Waltz Plans To Retire

Economic data released this week doesn’t paint a rosy picture, raising concerns over the economy slipping into a recession in the coming months. Although President Donald Trump temporarily paused reciprocal tariffs last month, which helped markets rebound from their earlier lows, Wall Street remains volatile.
Given this uncertainty, cautious investors looking for a steady income and ways to protect their capital may want to hold or buy dividend-paying stocks. Three such stocks are Atkore Inc. ATKR, Enact Holdings, Inc. ACT, Pool Corporation POOL and American Water Works Company, Inc. AWK.
U.S. Economy Shrinks, Consumer Confidence Low
The Commerce Department said earlier this week that the U.S. economy contracted in the first quarter of 2025. Gross domestic product (GDP) fell 0.3% in the first three months of the year, recording the first quarter of negative growth since the first quarter of 2022, and missing analysts’ expectations of 0.4% growth.
This came as fears grew that Trump’s tariffs could weigh on the economy’s health. Trump temporarily paused tariffs for 90 days, which saw a sharp rise in imports in the final month of the first quarter as consumers bought imported goods at a higher rate. Imports jumped 41.3% for the quarter, while exports grew just 1.8%.
Consumer spending also slowed as people saved more, anticipating tougher days ahead. Besides, there was also a significant decline in federal expenditures, which played a major role in the sluggish GDP figures.
Investors are worried that the economy could shrink further once the tariffs go into effect. Consumer confidence fell 7.9 points to 86 in April to hit a five-year low. Needless to say, investors aren’t confident about the economy and with the picture on trade negotiations still unclear, markets could remain volatile for a longer period.
4 Stocks That Recently Declared Dividend Hikes
Given the uncertainty, it would be a wise decision to invest in stocks that pay dividends. These companies usually remain stable and consistently pay out dividends while sustaining profitability through strong business strategies. In a fluctuating market, companies that pay high dividends often outperform those that do not.
Atkore Inc.
Atkore Inc. manufactures and distributes electrical raceway products. It offers steel tubes and pipes, electrical conduit, armored wire and cable, cable trays, metal framing systems and building components. Atkore has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
On April 30, Atkore announced that its shareholders would receive a dividend of $0.33 a share on May 28. ATKR has a dividend yield of 2%. Over the past five years, Atkore has increased its dividend once, and its payout ratio presently sits at 12% of earnings. Check Atkore’s dividend history here.
Enact Holdings
Enact Holdings, Inc. operates principally through its wholly owned subsidiary Genworth Mortgage Insurance Corporation, which provides U.S. private mortgage insurance. Enact Holdings has a Zacks Rank #3.
On April 30, Enact Holdings declared that its shareholders would receive a dividend of $0.21 a share on June 11. ACT has a dividend yield of 2.07%. Over the past five years, Enact Holdings has increased its dividend six times, and its payout ratio presently sits at 16% of earnings. Check Enact Holdings’ dividend history here.
Pool Corporation
Pool Corporation is the world's largest wholesale distributor of swimming pool supplies, equipment and related products. In addition, POOL is a leading regional wholesale distributor of irrigation and landscape products. Pool Corporation carries a Zacks Rank #3.
On April 30, Pool Corporation announced that its shareholders would receive a dividend of $1.25 a share on May 29. POOL has a dividend yield of 1.64%. Over the past five years, Pool Corporation has increased its dividend six times, and its payout ratio presently sits at 46% of earnings. Check Pool Corporation’s dividend history here.
American Water Works Company
American Water Works Company, Inc. provides essential water services to more than 14 million customers in 24 states and has an employee strength of 6,700. AWK also acquires small water service providers to expand its customer base. American Water Works carries a Zacks Rank #2 (Buy).
On April 30, American Water Works declared that its shareholders would receive a dividend of $0.83 a share on June 3. AWK has a dividend yield of 2.08%. Over the past five years, American Water Works has increased its dividend six times, and its payout ratio presently sits at 57% of earnings. Check American Water Works’ dividend history here.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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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.

4 Stocks to Watch That Recently Declared Dividend Hikes Amid Volatility

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Invesco FTSE RAFI US 1000 ETF (Symbol: PRF), we found that the implied analyst target price for the ETF based upon its underlying holdings is $47.18 per unit.
With PRF trading at a recent price near $42.49 per unit, that means that analysts see 11.03% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of PRF's underlying holdings with notable upside to their analyst target prices are Atkore Inc (Symbol: ATKR), Zillow Group Inc (Symbol: ZG), and O'Reilly Automotive, Inc. (Symbol: ORLY). Although ATKR has traded at a recent price of $70.19/share, the average analyst target is 12.27% higher at $78.80/share. Similarly, ZG has 12.01% upside from the recent share price of $77.30 if the average analyst target price of $86.58/share is reached, and analysts on average are expecting ORLY to reach a target price of $1440.62/share, which is 11.17% above the recent price of $1295.82. Below is a twelve month price history chart comparing the stock performance of ATKR, ZG, and ORLY:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
Invesco FTSE RAFI US 1000 ETF
PRF
$42.49
$47.18
11.03%
Atkore Inc
ATKR
$70.19
$78.80
12.27%
Zillow Group Inc
ZG
$77.30
$86.58
12.01%
O'Reilly Automotive, Inc.
ORLY
$1295.82
$1440.62
11.17%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
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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.

Analysts Forecast 11% Gains Ahead For PRF

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Hershey Company (Symbol: HSY), where a total of 10,070 contracts have traded so far, representing approximately 1.0 million underlying shares. That amounts to about 51.6% of HSY's average daily trading volume over the past month of 2.0 million shares. Especially high volume was seen for the $175 strike call option expiring August 15, 2025, with 1,275 contracts trading so far today, representing approximately 127,500 underlying shares of HSY. Below is a chart showing HSY's trailing twelve month trading history, with the $175 strike highlighted in orange:
Atkore Inc (Symbol: ATKR) saw options trading volume of 2,273 contracts, representing approximately 227,300 underlying shares or approximately 48.5% of ATKR's average daily trading volume over the past month, of 468,610 shares. Particularly high volume was seen for the $70 strike put option expiring February 21, 2025, with 190 contracts trading so far today, representing approximately 19,000 underlying shares of ATKR. Below is a chart showing ATKR's trailing twelve month trading history, with the $70 strike highlighted in orange:
And SelectQuote Inc (Symbol: SLQT) options are showing a volume of 5,455 contracts thus far today. That number of contracts represents approximately 545,500 underlying shares, working out to a sizeable 48.2% of SLQT's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $4.50 strike call option expiring February 21, 2025, with 2,142 contracts trading so far today, representing approximately 214,200 underlying shares of SLQT. Below is a chart showing SLQT's trailing twelve month trading history, with the $4.50 strike highlighted in orange:
For the various different available expirations for HSY options, ATKR options, or SLQT options, visit StockOptionsChannel.com.
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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.

Notable Tuesday Option Activity: HSY, ATKR, SLQT

The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. Atkore Inc (Symbol: ATKR) presently has an excellent rank, in the top 25% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.
But making Atkore Inc an even more interesting and timely stock to look at, is the fact that in trading on Tuesday, shares of ATKR entered into oversold territory, changing hands as low as $63.25 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of Atkore Inc, the RSI reading has hit 23.4 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 49.3. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, ATKR's recent annualized dividend of 1.28/share (currently paid in quarterly installments) works out to an annual yield of 1.61% based upon the recent $79.72 share price.
A bullish investor could look at ATKR's 23.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on ATKR is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
Click here to find out what 9 other oversold dividend stocks you need to know about »
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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.

Relative Strength Alert For Atkore

The following are today's upgrades for Validea's P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
ATKORE INC (ATKR) is a mid-cap value stock in the Electronic Instr. & Controls industry. The rating according to our strategy based on Peter Lynch changed from 74% to 93% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Atkore Inc. is a manufacturer of electrical products for commercial, industrial, data center, telecommunications and solar applications. The Company's segments include electrical, and safety and infrastructure. The electrical segment manufactures products used in the construction of electrical power systems, including conduit, cable and installation accessories, and serves contractors in partnership with the electrical wholesale channel. The safety and infrastructure segment designs and manufactures solutions, including metal framing, mechanical pipe, perimeter security and cable management for the protection of infrastructure. These solutions are marketed to contractors, original equipment manufacturers and end users. Its products and services include Toggle Dropdown, Conduit, Traffic Products and Cable Tray Systems. It manufactures products in approximately 49 facilities and operates a total of 7.5 million square feet of manufacturing and distribution space in eight countries.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO:
PASS
SALES AND P/E RATIO:
PASS
INVENTORY TO SALES:
PASS
EPS GROWTH RATE:
PASS
TOTAL DEBT/EQUITY RATIO:
PASS
FREE CASH FLOW:
NEUTRAL
NET CASH POSITION:
NEUTRAL
Detailed Analysis of ATKORE INC
ATKR Guru Analysis
ATKR Fundamental Analysis
Peter Lynch Portfolio
Top Peter Lynch Stocks
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea Peter Lynch Strategy Daily Upgrade Report - 11/27/2024

The stock price of Atkore (NYSE: ATKR), an electrical safety products’ manufacturer, rose 5% on Friday, November 22. The company reported mixed results for the fourth quarter on November 21 while its outlook for fiscal 2025 was dismal. This resulted in ATKR stock declining to its 52-week low of $76, before seeing a rebound on Friday. Despite cut in price targets post Q4, most of the analysts’ forecasts were still placed above $90 levels, aiding the stock price. Looking at a slightly longer term, ATKR stock has seen a decline of 20% from levels of around $113 in early 2023 to $90 now. This can primarily be attributed to:
an 18% fall in the company’s revenue from $3.9 billion in 2022 to $3.2 billion in 2024; and
a 19% fall in the company’s P/S ratio to 1.0x now, versus 1.3x then; partly offset by
a 17% fall in total shares outstanding to 37 million, thanks to $1.4 billion the company spent on share repurchases.
1. What’s Behind Atkore’s Sales Decline?
Atkore’s revenue decline lately can be attributed to lower price realization, while its volumes have been trending higher. The average selling prices plunged 16.5% in 2023 and 11.5% in 2024. The company’s performance is linked to commodity prices, primarily steel, copper and resin. With a decline in raw material prices over recent years, the average selling price for Atkore has taken a hit. Steel prices have been on a decline since 2021, amid a weak China demand. Lower price realization has also weighed on Atkore’s profitability. Its operating income has halved, from $1.2 billion in 2022 to $0.6 billion in 2024. The operating margin has declined from 31.5% to 19.5% over this period.
Looking at the latest quarter, Atkore reported sales of $788 million, reflecting a 9% y-o-y decline, but above the consensus estimate of $748 million. Looking at segments, Electrical sales declined 13.1%, while Safety & Infrastructure sales were up 2%, driven by better volumes.
Atkore guided for its sales to be in the range of $2.9 billion and $3.2 billion in fiscal 2025, reflecting continued pricing pressure.
2. Does ATKR Stock Offer Any Room For Growth?
ATKR stock has seen a sharp 43% fall this year, significantly underperforming the broader markets, with the S&P500 index rising 25%. Admirably, ATKR stock has generated better returns than the broader market in each of the last three years. Returns for the stock were 170% in 2021, 2% in 2022, and 41% in 2023. Similarly, the Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, is considerably less volatile. And it has outperformed the S&P 500 each year over the same period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.
Given the current uncertain macroeconomic environment around rate cuts and falling steel prices, could ATKR see a strong jump? After its recent fall, we think ATKR stock has some room for growth. At levels of $90, it’s trading at 1.0x trailing revenues, versus the stock’s average P/S ratio of 1.6x over the last three years. Now, a slight decline in valuation multiple seems justified, given the falling sales. However, the company has a large cash position of $3.5 billion, while its debt is less than $1 billion. It has a debt to equity ratio of 30%, and 12% cash as a percentage of assets. Atkore has been using its cash for share repurchases, which has bolstered its bottom line lately, a trend expected to continue. With steel prices expected to rebound from 2026, the company’s average selling prices will likely improve. The $101 average of analysts price estimate for ATKR stock reflects around 12% upside from the current levels.
While ATKR stock looks like it has some room for growth, it is helpful to see valuable comparisons for companies across industries at Peer Comparisons.
Returns
Nov 2024
MTD [1]
2024
YTD [1]
2017-24
Total [2]
ATKR Return
5%
-43%
281%
S&P 500 Return
4%
25%
166%
Trefis Reinforced Value Portfolio
8%
24%
818%
[1] Returns as of 11/25/2024
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should You Pick Atkore Stock At $90?

The following companies are expected to report earnings prior to market open on 11/21/2024. Visit our Earnings Calendar for a full list of expected earnings releases.
PDD Holdings Inc. (PDD)is reporting for the quarter ending September 30, 2024. The diversified operations company's consensus earnings per share forecast from the 2 analysts that follow the stock is $2.62. This value represents a 80.69% increase compared to the same quarter last year. In the past year PDD has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 11.24%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for PDD is 10.52 vs. an industry ratio of 25.90.
Deere & Company (DE)is reporting for the quarter ending October 31, 2024. The farm machinery company's consensus earnings per share forecast from the 11 analysts that follow the stock is $3.90. This value represents a 52.78% decrease compared to the same quarter last year. In the past year DE has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 8.45%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for DE is 16.00 vs. an industry ratio of 24.70.
Baidu, Inc. (BIDU)is reporting for the quarter ending September 30, 2024. The internet services company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.88. This value represents a 21.01% decrease compared to the same quarter last year. In the past year BIDU has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 6.25%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for BIDU is 10.04 vs. an industry ratio of 49.60.
KE Holdings Inc (BEKE)is reporting for the quarter ending September 30, 2024. The real estate company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.14. This value represents a 6.67% decrease compared to the same quarter last year. In the past year BEKE has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 100%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for BEKE is 30.34 vs. an industry ratio of -2.30, implying that they will have a higher earnings growth than their competitors in the same industry.
BJ's Wholesale Club Holdings, Inc. (BJ)is reporting for the quarter ending October 31, 2024. The business services company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.91. This value represents a 7.14% decrease compared to the same quarter last year. In the past year BJ has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 9%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for BJ is 22.48 vs. an industry ratio of 15.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Warner Music Group Corp. (WMG)is reporting for the quarter ending September 30, 2024. The movie/tv production company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.28. This value represents a 17.65% decrease compared to the same quarter last year. WMG missed the consensus earnings per share in the 4th calendar quarter of 2023 by -30.23%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for WMG is 31.97 vs. an industry ratio of 21.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Construction Partners, Inc. (ROAD)is reporting for the quarter ending September 30, 2024. The building company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.57. This value represents a 3.39% decrease compared to the same quarter last year. In the past year ROAD has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 9.26%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for ROAD is 69.92 vs. an industry ratio of 17.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Atkore Inc. (ATKR)is reporting for the quarter ending September 30, 2024. The wire and cable company's consensus earnings per share forecast from the 1 analyst that follows the stock is $2.08. This value represents a 42.70% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2024 Price to Earnings ratio for ATKR is 6.80 vs. an industry ratio of 17.60.
iQIYI, Inc. (IQ)is reporting for the quarter ending September 30, 2024. The movie/tv production company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.02. This value represents a 71.43% decrease compared to the same quarter last year. IQ missed the consensus earnings per share in the 2nd calendar quarter of 2024 by -75%. Zacks Investment Research reports that the 2024 Price to Earnings ratio for IQ is 13.06 vs. an industry ratio of 21.70.
Shoe Carnival, Inc. (SCVL)is reporting for the quarter ending October 31, 2024. The retail (shoe) company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.70. This value represents a 12.50% decrease compared to the same quarter last year. SCVL missed the consensus earnings per share in the 4th calendar quarter of 2023 by -17.53%. The "days to cover" for this stock exceeds 11 days. Zacks Investment Research reports that the 2025 Price to Earnings ratio for SCVL is 13.26 vs. an industry ratio of 26.30.
Cerence Inc. (CRNC)is reporting for the quarter ending September 30, 2024. The information technology services company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.42. This value represents a 223.08% decrease compared to the same quarter last year. In the past year CRNC has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 146.15%. The days to cover, as reported in the 10/31/2024 short interest update, increased 177.54% from previous report on 10/15/2024. Zacks Investment Research reports that the 2024 Price to Earnings ratio for CRNC is 6.60 vs. an industry ratio of 204.90.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for November 21, 2024 : PDD, DE, BIDU, BEKE, BJ, WMG, ROAD, ATKR, IQ, SCVL, CRNC

Investors in Atkore Inc (Symbol: ATKR) saw new options begin trading today, for the December 20th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ATKR options chain for the new December 20th contracts and identified one put and one call contract of particular interest.
The put contract at the $85.00 strike price has a current bid of $4.20. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $85.00, but will also collect the premium, putting the cost basis of the shares at $80.80 (before broker commissions). To an investor already interested in purchasing shares of ATKR, that could represent an attractive alternative to paying $88.14/share today.
Because the $85.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 63%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 4.94% return on the cash commitment, or 28.16% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Atkore Inc, and highlighting in green where the $85.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $90.00 strike price has a current bid of $6.00. If an investor was to purchase shares of ATKR stock at the current price level of $88.14/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $90.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.92% if the stock gets called away at the December 20th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ATKR shares really soar, which is why looking at the trailing twelve month trading history for Atkore Inc, as well as studying the business fundamentals becomes important. Below is a chart showing ATKR's trailing twelve month trading history, with the $90.00 strike highlighted in red:
Considering the fact that the $90.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 47%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.81% boost of extra return to the investor, or 38.80% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 57%, while the implied volatility in the call contract example is 58%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $88.14) to be 42%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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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.