Is Atkore, Inc. overvalued or undervalued?

As of 3 October 2022, the valuation grade for Atkore, Inc. moved from very attractive to attractive, indicating a shift in its perceived investment appeal. The company is currently considered undervalued based on its P/E ratio of 7, significantly lower than the industry average, with a Price to Book Value of 1.64 and an EV to EBITDA of 4.88. Notably, Atkore's ROE stands at 22.52%, showcasing strong profitability relative to its equity.
In comparison to its peers, Hubbell, Inc. has a P/E ratio of 25.57, while Acuity Brands, Inc. shows a P/E of 31.53, highlighting that Atkore is trading at a substantial discount. Despite a challenging year with a YTD return of -18.00% compared to the S&P 500's 2.44%, Atkore's strong dividend yield of 210.27% and robust ROCE of 22.17% suggest that it remains a compelling investment opportunity in the current market.