Atkore (NYSE:ATKR) Posts Earnings Results, Beats Expectations By $0.86 EPS

Atkore (NYSE:ATKR) issued its quarterly earnings results on Monday. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.86, Briefing.com reports. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same period in the previous year, the business earned $4.31 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis.

Atkore Stock Performance

ATKR stock traded up $0.90 during trading on Thursday, reaching $158.53. 310,698 shares of the company’s stock were exchanged, compared to its average volume of 481,346. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. Atkore has a 1-year low of $116.14 and a 1-year high of $194.98. The company’s fifty day moving average price is $176.60 and its 200-day moving average price is $155.43. The firm has a market cap of $5.83 billion, a PE ratio of 9.89 and a beta of 2.19.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a yield of 0.81%. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATKR. Citigroup lowered their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday. StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd.

Insider Activity

In other news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total value of $188,775.23. Following the completion of the sale, the director now owns 16,686 shares in the company, valued at $2,866,154.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Justin A. Kershaw sold 1,099 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total transaction of $188,775.23. Following the sale, the director now directly owns 16,686 shares of the company’s stock, valued at $2,866,154.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Pregenzer sold 4,044 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $174.42, for a total value of $705,354.48. Following the transaction, the insider now directly owns 30,430 shares in the company, valued at $5,307,600.60. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock worth $25,124,751 over the last 90 days. 2.56% of the stock is currently owned by company insiders.

Atkore Company Profile

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.