FMP
Atkore Shares Surge 16% Since Q4 Report
Nov 21, 2022 9:00 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Atkore Inc (NYSE:ATKR) shares gained more than 16% since the company’s reported Q4 results on Friday, with EPS of $5.52 coming in better than the Street estimate of $5.03. Revenue was $1.029 billion, beating the Street estimate of $980.34 million.
According to the analysts at RBC Capital, the excitement driving the shares up was all in the upside guidance, quelling any “peak earnings” angst once again. Operating results were mostly in line. Pricing sequentially decelerated to 4.9% growth, matching the analysts’ expectations, and volume inflected to positive.
The analysts raised their price target to $136 from $110.00 while maintaining their Outperform rating.
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