Atkore (NYSE:ATKR) Updates Q1 Earnings Guidance

Atkore (NYSE:ATKR) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.45-1.65 for the period, compared to the consensus earnings per share estimate of $2.72. Atkore also updated its FY 2025 guidance to 7.800-8.900 EPS.

Analysts Set New Price Targets

A number of equities analysts have commented on ATKR shares. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Loop Capital reduced their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $84.00 in a research note on Friday. Finally, Royal Bank of Canada dropped their target price on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $117.00.

Atkore Stock Performance

NYSE ATKR opened at $89.47 on Friday. The stock has a fifty day simple moving average of $87.74 and a 200-day simple moving average of $113.93. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.21 billion, a PE ratio of 7.08 and a beta of 2.13. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares of the company’s stock, 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 the SEC website. Insiders own 2.56% of the company’s stock.

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.