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

Atkore (NYSE:ATKR) released its quarterly earnings results on Monday. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.22 by $0.86, Briefing.com reports. The company had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.31 earnings per share.

Atkore Price Performance

Shares of ATKR traded up $0.90 during trading hours on Thursday, hitting $158.53. The stock had a trading volume of 310,698 shares, compared to its average volume of 481,346. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.89 and a beta of 2.19. Atkore has a 52 week low of $116.14 and a 52 week high of $194.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The company’s fifty day moving average is $176.60 and its two-hundred day moving average is $155.43.

Atkore Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity at Atkore

In related news, CEO William E. Jr. Waltz sold 43,072 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the transaction, the vice president now directly owns 34,907 shares in the company, valued at approximately $6,041,354.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the sale, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock valued at $25,124,751 in the last three months. Corporate insiders own 2.56% of the company’s stock.

About Atkore

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.