Atkore International Group Inc (ATKR) Releases Earnings Results, Beats Expectations By $0.02 EPS
Atkore International Group Inc (NASDAQ:ATKR) announced its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02, Bloomberg Earnings reports. The business had revenue of $397.70 million for the quarter, compared to the consensus estimate of $424.49 million. Atkore International Group had a net margin of 5.08% and a return on equity of 25.87%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. Atkore International Group updated its FY17 guidance to $1.37-1.45 EPS.
Shares of Atkore International Group (NASDAQ:ATKR) opened at 16.28 on Wednesday. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $27.30. The company has a 50 day moving average of $21.99 and a 200-day moving average of $24.18. The firm has a market capitalization of $1.03 billion and a P/E ratio of 14.43.
In related news, insider John Patrick Williamson sold 70,000 shares of Atkore International Group stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $21.78, for a total value of $1,524,600.00. Following the transaction, the insider now directly owns 201,625 shares of the company’s stock, valued at $4,391,392.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Atkore International Group by 50.5% in the fourth quarter. State Street Corp now owns 180,942 shares of the company’s stock worth $4,326,000 after buying an additional 60,733 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in Atkore International Group during the fourth quarter worth approximately $224,000. Norges Bank bought a new position in Atkore International Group during the fourth quarter worth approximately $2,391,000. Teachers Advisors LLC raised its position in Atkore International Group by 561.0% in the fourth quarter. Teachers Advisors LLC now owns 85,193 shares of the company’s stock worth $2,037,000 after buying an additional 72,305 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN bought a new position in Atkore International Group during the first quarter worth approximately $356,000.
ATKR has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $31.00 price target on shares of Atkore International Group in a research report on Tuesday, April 11th. Finally, Credit Suisse Group upgraded shares of Atkore International Group from a “neutral” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Wednesday.
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About Atkore International Group
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.
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