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

Atkore (NYSE:ATKR - Get Free Report) released its quarterly earnings data on Monday. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $808.22 million. During the same period in the prior year, the firm posted $4.31 EPS. The business's quarterly revenue was down 11.5% compared to the same quarter last year.

Atkore Stock Performance

Shares of Atkore stock traded up $3.35 during trading on Wednesday, reaching $157.69. The company's stock had a trading volume of 995,265 shares, compared to its average volume of 483,466. The company has a 50-day moving average price of $176.60 and a two-hundred day moving average price of $155.43. Atkore has a fifty-two week low of $116.14 and a fifty-two week high of $194.98. The firm has a market cap of $5.80 billion, a PE ratio of 9.45 and a beta of 2.19. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51.

Atkore Dividend Announcement

The company 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 $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Monday, May 20th. Atkore's payout ratio is currently 7.67%.

Insider Buying and Selling

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 transaction of $1,503,112.95. Following the transaction, the vice president now owns 34,907 shares of the company's stock, valued at $6,041,354.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Daniel S. Kelly sold 8,685 shares of the company's 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel S. Kelly sold 15,815 shares of Atkore stock in a transaction on Monday, March 4th. The shares were sold at an average price of $173.59, for a total transaction of $2,745,325.85. Following the completion of the transaction, the vice president now owns 34,907 shares in the company, valued at $6,059,506.13. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock worth $25,124,751 in the last 90 days. Company insiders own 2.56% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ATKR. StockNews.com raised Atkore from a "hold" rating to a "buy" rating in a report on Friday, April 5th. Citigroup lowered their target price on shares of Atkore from $200.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd.

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.