Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Atkore International Group's first quarter fiscal year 2025 results were broadly aligned with expectations, but there are notable challenges and developments within the company that are influencing its forward-looking guidance.</li><li>The company reported net sales of $662 million and adjusted EBITDA of $99 million, both within the anticipated range.</li><li>Adjusted EPS was also near the high end of the forecast at $1.63, despite a 5% decline in organic volume compared to a strong prior-year quarter.</li></ul>

Atkore International Group's first quarter fiscal year 2025 results were broadly aligned with expectations, but there are notable challenges and developments within the company that are influencing its forward-looking guidance.The company reported net sales of $662 million and adjusted EBITDA of $99 million, both within the anticipated range.Adjusted EPS was also near the high end of the forecast at $1.63, despite a 5% decline in organic volume compared to a strong prior-year quarter.

Atkore’s Import Defense Plan Could Protect Margins — A Smart BUY Opportunity?

<ul><li>Atkore International Group Inc. has reported its fourth-quarter and full-year fiscal 2024 results.</li><li>The company demonstrated modest volume growth, addressing a challenging year with strategic measures and an ongoing focus on market expansion.</li><li>For the fiscal year, Atkore achieved net sales of $3.2 billion and adjusted EBITDA of $772 million, though the company faced pricing pressures impacting profitability.</li></ul>

Atkore International Group Inc. has reported its fourth-quarter and full-year fiscal 2024 results.The company demonstrated modest volume growth, addressing a challenging year with strategic measures and an ongoing focus on market expansion.For the fiscal year, Atkore achieved net sales of $3.2 billion and adjusted EBITDA of $772 million, though the company faced pricing pressures impacting profitability.

Atkore Inc.: An Insight Into Its Competitive Market Dynamics & Major Growth Drivers

<ul><li>Atkore, a prominent player in the construction and electrical solutions sector, delivered a mixed fiscal third-quarter performance amidst challenging market dynamics and competitive pressures.</li><li>During the quarter, Atkore experienced flat year-over-year organic growth, which highlighted a balance between gains from solar energy projects and its construction services against broad pricing declines across its Electrical business.</li><li>This period did not witness the usual summer surge in construction demand, which generally bolsters performance.</li></ul>

Atkore, a prominent player in the construction and electrical solutions sector, delivered a mixed fiscal third-quarter performance amidst challenging market dynamics and competitive pressures.During the quarter, Atkore experienced flat year-over-year organic growth, which highlighted a balance between gains from solar energy projects and its construction services against broad pricing declines across its Electrical business.This period did not witness the usual summer surge in construction demand, which generally bolsters performance.

Atkore Inc.: Initiation Of Coverage - How Are They Executing The Expansion into Renewable Energy Sectors? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Dow Jones Industrial Average / Technical Analysis

<ul>
<li>The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. </li>
<li>As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we <em><strong>cannot be bearish</strong></em>if the SPX is above 4165-4200</li>
<li>Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.</li>
</ul>


The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. 
As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we cannot be bearishif the SPX is above 4165-4200
Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.


Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

<ul>
<li>This presentation runs through six current short ideas presented on a Smartkarma webinar on 22nd December.</li>
<li>These are:  Atkore (ATKR), Danaher (DHR), Service Corp International (SCI), ABM Industries (ABM), Monro (MNRO), and Renewable Fuels (REGI).</li>
<li>The presentation also summarizes Two Rivers' short idea generation process.</li>
</ul>


This presentation runs through six current short ideas presented on a Smartkarma webinar on 22nd December.
These are:  Atkore (ATKR), Danaher (DHR), Service Corp International (SCI), ABM Industries (ABM), Monro (MNRO), and Renewable Fuels (REGI).
The presentation also summarizes Two Rivers' short idea generation process.


United States

Atkore Inc. manufactures and supplies metal products and electrical raceway solutions. The Company offers steel tubes and pipes, electrical conduit, armored wire and cable, cable trays, metal framing systems, and building components. Atkore International Group serves customers globally.

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Atkore Inc (ATKR US)

Atkore’s Import Defense Plan Could Protect Margins — A Smart BUY Opportunity?

Atkore International Group's first quarter fiscal year 2025 results were broadly aligned with expectations, but there are notable challenges and...

Baptista Research

Atkore Inc.: An Insight Into Its Competitive Market Dynamics & Major Growth Drivers

Atkore International Group Inc. has reported its fourth-quarter and full-year fiscal 2024 results. The company demonstrated modest volume growth,...

Baptista Research

Atkore Inc.: Initiation Of Coverage - How Are They Executing The Expansion into Renewable Energy Sectors? - Major Drivers

Atkore, a prominent player in the construction and electrical solutions sector, delivered a mixed fiscal third-quarter performance amidst...

Baptista Research

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Dow $DJI Testing 1-Year Resistance at 34,280 ahead of FOMC. Breadth continues to improve within the Russell 2000 $IWM, and breadth improving within...

Vermilion Research

Review of Current Short Ideas

Current short ideas presented here: Atkore (ATKR), Danaher (DHR), Service Corp International (SCI), ABM Industries (ABM), Monro (MNRO), and...

Eric Fernandez, CFA

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