Atkore International Group Inc (ATKR) Expected to Post Earnings of $0.46 Per Share

Equities research analysts forecast that Atkore International Group Inc (NYSE:ATKR) will post $0.46 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Atkore International Group’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.45. Atkore International Group reported earnings per share of $0.35 in the same quarter last year, which would suggest a positive year over year growth rate of 31.4%. The firm is scheduled to issue its next earnings report on Tuesday, May 8th.

On average, analysts expect that Atkore International Group will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.59 to $2.09. For the next year, analysts forecast that the firm will report earnings of $2.20 per share, with EPS estimates ranging from $2.15 to $2.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Atkore International Group.

Atkore International Group (NYSE:ATKR) last announced its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The firm had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $382.89 million. During the same period in the prior year, the company earned $0.28 EPS. The business’s revenue was up 22.8% compared to the same quarter last year.

ATKR has been the topic of a number of recent analyst reports. BidaskClub raised shares of Atkore International Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Citigroup increased their price objective on shares of Atkore International Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. TheStreet raised shares of Atkore International Group from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. Zacks Investment Research raised shares of Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research report on Thursday, February 8th. Finally, UBS Group initiated coverage on shares of Atkore International Group in a research report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Atkore International Group has a consensus rating of “Buy” and a consensus target price of $24.00.

Shares of Atkore International Group (ATKR) opened at $21.85 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 1.39. Atkore International Group has a 1 year low of $15.05 and a 1 year high of $27.06. The firm has a market cap of $1,382.18, a PE ratio of 15.50, a P/E/G ratio of 1.21 and a beta of 1.25.

In other Atkore International Group news, insider John Patrick Williamson sold 5,352 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $20.00, for a total value of $107,040.00. Following the transaction, the insider now directly owns 170,907 shares in the company, valued at approximately $3,418,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin P. Fitzpatrick sold 154,806 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $22.13, for a total transaction of $3,425,856.78. Following the transaction, the vice president now owns 58,223 shares in the company, valued at $1,288,474.99. The disclosure for this sale can be found here. Insiders sold a total of 17,557,923 shares of company stock worth $382,032,981 over the last 90 days. Insiders own 51.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Atkore International Group by 18.3% in the second quarter. FMR LLC now owns 1,527,400 shares of the company’s stock valued at $34,443,000 after acquiring an additional 235,900 shares in the last quarter. Vanguard Group Inc. boosted its stake in Atkore International Group by 13.3% in the second quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock valued at $80,044,000 after acquiring an additional 417,268 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Atkore International Group in the third quarter valued at approximately $373,000. Catalyst Capital Advisors LLC acquired a new stake in Atkore International Group in the third quarter valued at approximately $314,000. Finally, New York State Common Retirement Fund boosted its stake in Atkore International Group by 11.3% in the third quarter. New York State Common Retirement Fund now owns 284,970 shares of the company’s stock valued at $5,560,000 after acquiring an additional 28,887 shares in the last quarter. Hedge funds and other institutional investors own 96.59% of the company’s stock.

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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.

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