Atkore (ATKR) Set to Announce Quarterly Earnings on Friday

Atkore (NYSE:ATKR) is scheduled to post its quarterly earnings results before the market opens on Friday, November 17th. Analysts expect Atkore to post earnings of $3.70 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 8th. The company reported $5.72 earnings per share for the quarter, beating the consensus estimate of $4.27 by $1.45. Atkore had a return on equity of 59.21% and a net margin of 20.93%. The company had revenue of $919.10 million for the quarter, compared to analyst estimates of $929.45 million. During the same period in the previous year, the company posted $5.74 earnings per share. The firm’s revenue was down 13.4% on a year-over-year basis. On average, analysts expect Atkore to post $17 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Atkore Trading Down 0.1 %

NYSE ATKR opened at $128.73 on Friday. The company has a quick ratio of 1.95, a current ratio of 2.85 and a debt-to-equity ratio of 0.54. Atkore has a twelve month low of $97.35 and a twelve month high of $164.76. The firm has a market capitalization of $4.86 billion, a PE ratio of 6.84 and a beta of 2.14. The stock’s 50 day moving average is $140.54 and its 200 day moving average is $140.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Atkore from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. B. Riley lifted their price target on Atkore from $161.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Citigroup lifted their price objective on Atkore from $159.00 to $163.00 and gave the company a “neutral” 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP grew its holdings in shares of Atkore by 72.4% in the second quarter. Quarry LP now owns 200 shares of the company’s stock worth $31,000 after acquiring an additional 84 shares during the period. Point72 Middle East FZE bought a new stake in shares of Atkore in the fourth quarter worth $51,000. Benjamin Edwards Inc. grew its holdings in shares of Atkore by 93.3% in the second quarter. Benjamin Edwards Inc. now owns 516 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares during the period. Captrust Financial Advisors grew its holdings in shares of Atkore by 85.6% in the second quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after acquiring an additional 280 shares during the period. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Atkore in the first quarter worth $119,000.

About Atkore

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.