Atkore (NYSE:ATKR) Releases Earnings Results, Beats Estimates By $0.51 EPS

Atkore (NYSE:ATKRGet Free Report) issued its quarterly earnings data on Friday. The company reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.51, MarketWatch Earnings reports. Atkore had a net margin of 20.93% and a return on equity of 59.21%. The firm had revenue of $870.00 million for the quarter, compared to the consensus estimate of $910.40 million. During the same quarter in the previous year, the firm earned $5.18 EPS. The company’s quarterly revenue was down 15.5% compared to the same quarter last year.

Atkore Stock Performance

ATKR opened at $122.10 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.85 and a quick ratio of 1.95. The firm has a fifty day moving average price of $138.46 and a 200 day moving average price of $141.05. Atkore has a 1 year low of $109.54 and a 1 year high of $164.76. The stock has a market cap of $4.61 billion, a P/E ratio of 7.19 and a beta of 2.14.

Hedge Funds Weigh In On Atkore

Several large investors have recently made changes to their positions in ATKR. Cetera Advisor Networks LLC acquired a new position in Atkore during the second quarter worth $217,000. State of Tennessee Treasury Department acquired a new stake in shares of Atkore in the first quarter valued at about $209,000. Kestra Advisory Services LLC acquired a new stake in shares of Atkore in the second quarter valued at about $207,000. Bridgefront Capital LLC acquired a new stake in shares of Atkore in the fourth quarter valued at about $201,000. Finally, Amundi acquired a new stake in shares of Atkore in the fourth quarter valued at about $185,000.

Analyst Ratings Changes

ATKR has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Atkore in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Citigroup boosted their target price on shares of Atkore from $159.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. B. Riley boosted their target price on shares of Atkore from $161.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Royal Bank of Canada boosted their target price on shares of Atkore from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th.

Read Our Latest Analysis on ATKR

Atkore Company Profile

(Get Free Report)

Atkore Inc engages in the manufacture and sale of electrical, safety, and infrastructure products in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

Further Reading

Earnings History for Atkore (NYSE:ATKR)

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