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

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

Atkore Stock Down 2.2 %

NYSE ATKR opened at $79.69 on Tuesday. The business has a fifty day moving average price of $86.07 and a two-hundred day moving average price of $92.50. The stock has a market capitalization of $2.77 billion, a PE ratio of 6.31 and a beta of 2.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. Atkore has a fifty-two week low of $76.01 and a fifty-two week high of $194.98.

Atkore Announces Dividend

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

Insider Transactions at Atkore

In other Atkore 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 directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,924 shares of company stock worth $1,614,975. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATKR. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Loop Capital reduced 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. Finally, B. Riley cut Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Atkore presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

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.