Atkore (NYSE:ATKR) Updates FY 2022 Earnings Guidance

Atkore (NYSE:ATKR) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $9.200-$10.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.290. The company issued revenue guidance of -.Atkore also updated its Q1 2022 guidance to $3.300-$3.600 EPS.

NYSE ATKR opened at $113.01 on Thursday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 9.24 and a beta of 2.48. The company has a quick ratio of 2.16, a current ratio of 2.71 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $95.88 and a 200-day moving average price of $85.09. Atkore has a twelve month low of $38.75 and a twelve month high of $118.49.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 18th. The company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.84 by $0.55. The firm had revenue of $923.70 million during the quarter, compared to analyst estimates of $839.38 million. Atkore had a return on equity of 92.24% and a net margin of 20.08%. The business’s quarterly revenue was up 93.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share.

A number of equities analysts have recently weighed in on ATKR shares. Citigroup upped their price objective on Atkore from $102.00 to $123.00 and gave the stock a neutral rating in a research note on Friday, November 19th. Credit Suisse Group boosted their target price on Atkore from $107.00 to $121.00 and gave the stock an outperform rating in a research report on Friday, November 19th. Finally, Royal Bank of Canada boosted their target price on Atkore from $99.00 to $129.00 and gave the stock an outperform rating in a research report on Friday, November 19th. They noted that the move was a valuation call.

An institutional investor recently raised its position in Atkore stock. Morgan Stanley increased its position in Atkore Inc. (NYSE:ATKR) by 3,104.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,240 shares of the company’s stock after buying an additional 290,871 shares during the period. Morgan Stanley owned 0.65% of Atkore worth $21,317,000 at the end of the most recent quarter. Institutional investors own 94.09% of the company’s stock.

Atkore Company Profile

Atkore, Inc engages in the manufacture of electrical raceway products. It operates through the Electrical, and Safety and Infrastructure segments. The Electrical segment produces products used in the construction of electrical power systems such as conduit, cable, and installation accessories. The Safety and Infrastructure segment designs and creates solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure.

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