Atkore (NYSE:ATKR) Posts Earnings Results, Beats Expectations By $0.45 EPS

Atkore (NYSE:ATKR) announced its quarterly earnings results on Tuesday. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45, Zacks reports. Atkore had a net margin of 14.77% and a return on equity of 32.14%.

Atkore Trading Down 2.2 %

Shares of NYSE:ATKR opened at $79.69 on Tuesday. The stock has a 50 day moving average of $86.07 and a 200 day moving average of $92.50. The company has a market cap of $2.77 billion, a PE ratio of 6.31 and a beta of 2.12. Atkore has a 12-month low of $76.01 and a 12-month high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.61%. Atkore’s payout ratio is currently 10.13%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,924 shares of company stock worth $1,614,975. Company insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital cut their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

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.