Atkore (NYSE:ATKR) Releases FY24 Earnings Guidance

Atkore (NYSE:ATKR - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $16.00-17.00 for the period, compared to the consensus earnings per share estimate of $17.01.

Atkore Trading Down 12.5 %

NYSE ATKR traded down $22.07 during mid-day trading on Tuesday, hitting $154.33. The company's stock had a trading volume of 2,339,672 shares, compared to its average volume of 477,648. The firm has a market capitalization of $5.67 billion, a P/E ratio of 9.64 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. Atkore has a 52-week low of $116.14 and a 52-week high of $194.98. The stock's fifty day simple moving average is $176.91 and its two-hundred day simple moving average is $155.21.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Monday, May 20th. Atkore's dividend payout ratio is presently 7.67%.

Analyst Ratings Changes

ATKR has been the subject of a number of analyst reports. StockNews.com upgraded Atkore from a hold rating to a buy rating in a report on Friday, April 5th. Royal Bank of Canada restated an outperform rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd. Finally, Citigroup lifted 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.

Insiders Place Their Bets

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the sale, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total transaction 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 $13,434,743.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William E. Jr. Waltz sold 50,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the transaction, the chief executive officer now owns 83,716 shares in the company, valued at $14,554,026.60. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last ninety days. Corporate insiders own 2.56% of the company's stock.

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.