Atkore (NYSE:ATKR) Updates FY 2024 Earnings Guidance

Atkore (NYSE:ATKR) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of $16.00-$17.00 for the period, compared to the consensus earnings per share estimate of $16.47. The company issued revenue guidance of -. Atkore also updated its FY 2025 guidance to $18.00- EPS.

Atkore Price Performance

Shares of ATKR stock opened at $135.23 on Friday. The company has a current ratio of 2.85, a quick ratio of 1.95 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $138.46 and a two-hundred day simple moving average of $141.05. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 7.19 and a beta of 2.14. Atkore has a twelve month low of $99.78 and a twelve month high of $164.76.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Atkore

A number of large investors have recently modified their holdings of ATKR. Raymond James Financial Services Advisors Inc. grew its position in shares of Atkore by 289.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,458 shares of the company’s stock valued at $1,620,000 after buying an additional 12,234 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Atkore by 108.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,604 shares of the company’s stock valued at $945,000 after acquiring an additional 4,989 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Atkore by 2.5% during the 1st quarter. HighTower Advisors LLC now owns 16,070 shares of the company’s stock worth $1,582,000 after buying an additional 388 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Atkore during the 1st quarter worth approximately $223,000. Finally, PNC Financial Services Group Inc. increased its stake in Atkore by 12.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,464 shares of the company’s stock valued at $931,000 after purchasing an additional 1,031 shares in the last quarter.

Atkore Company Profile

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.