Wall Street brokerages predict that Atkore International Group Inc (NASDAQ:ATKR) will announce $427.88 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Atkore International Group’s earnings, with the lowest sales estimate coming in at $422.60 million and the highest estimate coming in at $435.88 million. Atkore International Group posted sales of $395.72 million during the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The business is expected to announce its next earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Atkore International Group will report full-year sales of $427.88 million for the current fiscal year, with estimates ranging from $1.56 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Atkore International Group.

Atkore International Group (NASDAQ:ATKR) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.08. The company had revenue of $372.79 million for the quarter, compared to the consensus estimate of $363.74 million. Atkore International Group had a net margin of 5.08% and a return on equity of 25.87%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS.

A number of analysts recently commented on ATKR shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $31.00 target price on shares of Atkore International Group in a research note on Tuesday, April 11th. Zacks Investment Research cut shares of Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd.

In other Atkore International Group news, VP Kevin P. Fitzpatrick sold 22,362 shares of Atkore International Group stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $26.22, for a total transaction of $586,331.64. Following the completion of the sale, the vice president now directly owns 76,212 shares in the company, valued at approximately $1,998,278.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Patrick Williamson sold 70,000 shares of Atkore International Group stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $21.78, for a total transaction of $1,524,600.00. Following the sale, the insider now owns 201,625 shares of the company’s stock, valued at $4,391,392.50. The disclosure for this sale can be found here. Insiders sold a total of 310,683 shares of company stock valued at $7,803,338 over the last quarter.

Hedge funds have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Atkore International Group by 34.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the company’s stock valued at $110,000 after buying an additional 1,065 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Atkore International Group during the first quarter valued at approximately $132,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Atkore International Group during the first quarter valued at approximately $139,000. American International Group Inc. acquired a new stake in shares of Atkore International Group during the first quarter valued at approximately $194,000. Finally, Trexquant Investment LP acquired a new stake in shares of Atkore International Group during the first quarter valued at approximately $218,000.

Shares of Atkore International Group (ATKR) traded up 0.66% on Friday, reaching $22.79. 266,177 shares of the company were exchanged. The stock has a market capitalization of $1.45 billion and a price-to-earnings ratio of 20.20. Atkore International Group has a 52 week low of $14.17 and a 52 week high of $27.30. The firm’s 50 day moving average price is $21.97 and its 200 day moving average price is $24.47.

WARNING: This article was reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/07/08/zacks-brokerages-anticipate-atkore-international-group-inc-atkr-will-post-quarterly-sales-of-427-88-million.html.

Atkore International Group Company Profile

Atkore International Group Inc is a manufacturer of electrical raceway products. The Company’s products are primarily offered for non-residential construction and renovation markets, and mechanical products and solutions (MP&S) for the construction and industrial markets. The Company operates in two segments: Electrical Raceway and MP&S.

Get a free copy of the Zacks research report on Atkore International Group (ATKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atkore International Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore International Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.