Atkore (NYSE:ATKR) Issues FY24 Earnings Guidance

Atkore (NYSE:ATKR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $16.00-17.00 for the period, compared to the consensus estimate of $17.01.

Analyst Ratings Changes

A number of brokerages have recently commented on ATKR. StockNews.com upgraded shares of Atkore from a hold rating to a buy rating in a research note on Friday, April 5th. Citigroup boosted their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada restated an outperform rating and issued a $187.00 price target on shares of Atkore in a research report on Friday, March 22nd.

Atkore Price Performance

NYSE:ATKR opened at $160.00 on Tuesday. The business’s 50-day simple moving average is $176.91 and its two-hundred day simple moving average is $155.21. Atkore has a 52 week low of $116.14 and a 52 week high of $194.98. The stock has a market cap of $5.88 billion, a PE ratio of 10.58 and a beta of 2.19. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.67%.

Insider Buying and Selling

In other news, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider John W. Pregenzer sold 4,044 shares of Atkore stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $174.42, for a total value of $705,354.48. Following the completion of the transaction, the insider now owns 30,430 shares in the company, valued at $5,307,600.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now owns 25,590 shares in the company, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,464 shares of company stock valued at $25,124,751. Corporate insiders own 2.56% of the company’s stock.

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.