Atkore (ATKR) to Release Quarterly Earnings on Tuesday

Atkore (NYSE:ATKR) will likely be announcing its earnings results before the market opens on Tuesday, February 4th. Analysts expect the company to announce earnings of $1.58 per share and revenue of $680.77 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.63 earnings per share. On average, analysts expect Atkore to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Atkore Trading Down 2.5 %

Atkore stock opened at $81.45 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 6.45 and a beta of 2.13. Atkore has a one year low of $76.01 and a one year high of $194.98. The company’s fifty day moving average price is $86.07 and its two-hundred day moving average price is $92.50.

Atkore Dividend Announcement

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 given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, February 18th. Atkore’s payout ratio is 10.13%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ATKR shares. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target (up 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. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Loop Capital lowered their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Insider Buying and Selling

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now directly owns 25,585 shares of the company’s stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the firm’s 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 owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock valued at $1,614,975 over the last three months. 1.99% of the stock is owned by corporate insiders.

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.