Atkore (NYSE:ATKR) Issues Q1 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. B. Riley downgraded 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. KeyCorp lowered their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Loop Capital lowered their target price on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday. Finally, Royal Bank of Canada lowered their target price on Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Stock Performance

Atkore stock opened at $89.69 on Friday. The business has a 50 day moving average of $87.80 and a 200-day moving average of $113.33. Atkore has a 1 year low of $76.01 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a market capitalization of $3.22 billion, a P/E ratio of 7.08 and a beta of 2.13.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, December 6th. Atkore’s dividend payout ratio is currently 10.13%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.56% of the stock is currently owned by insiders.

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.