Atkore (NYSE:ATKR) Issues Earnings Results

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

Atkore Price Performance

Atkore stock traded up $3.81 during mid-day trading on Wednesday, hitting $158.15. 452,008 shares of the company were exchanged, compared to its average volume of 477,220. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $176.72 and a 200 day moving average of $155.41. Atkore has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a market capitalization of $5.82 billion, a PE ratio of 9.43 and a beta of 2.19.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be paid a $0.32 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.81%. Atkore’s payout ratio is 7.67%.

Insiders Place Their Bets

In related news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the transaction, the vice president now owns 34,907 shares in the company, valued at $6,041,354.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John W. Pregenzer sold 6,548 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the sale, the insider now owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock worth $25,124,751 over the last three months. 2.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup upped their target price on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th.

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.