Wall Street analysts forecast that Atkore International Group Inc (NYSE:ATKR) will post earnings of $0.67 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Atkore International Group’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.66. Atkore International Group reported earnings per share of $0.44 during the same quarter last year, which would indicate a positive year-over-year growth rate of 52.3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Atkore International Group will report full-year earnings of $2.46 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.47. For the next financial year, analysts expect that the firm will report earnings of $2.64 per share, with EPS estimates ranging from $2.60 to $2.68. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Atkore International Group.
Atkore International Group (NYSE:ATKR) last issued its earnings results on Tuesday, May 8th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.22. The company had revenue of $445.00 million during the quarter, compared to the consensus estimate of $415.21 million. Atkore International Group had a return on equity of 40.89% and a net margin of 7.14%. During the same period in the previous year, the firm posted $0.35 earnings per share.
Several research analysts have issued reports on the company. TheStreet raised Atkore International Group from a “d+” rating to a “c” rating in a report on Wednesday, February 14th. Zacks Investment Research cut Atkore International Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. Finally, Citigroup dropped their price target on Atkore International Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, April 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $23.60.
In other Atkore International Group news, insider John Patrick Williamson sold 100,000 shares of Atkore International Group stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $22.57, for a total transaction of $2,257,000.00. Following the transaction, the insider now directly owns 296,385 shares in the company, valued at approximately $6,689,409.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Allied Holdings L.P. Cd&R sold 6,959,976 shares of Atkore International Group stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $19.91, for a total transaction of $138,573,122.16. The disclosure for this sale can be found here. Insiders sold 7,351,405 shares of company stock worth $147,112,321 in the last ninety days. 51.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ATKR. Atlantic Trust Group LLC grew its position in Atkore International Group by 14,400.0% during the 1st quarter. Atlantic Trust Group LLC now owns 5,075 shares of the company’s stock worth $101,000 after purchasing an additional 5,040 shares in the last quarter. SG Americas Securities LLC purchased a new position in Atkore International Group during the 4th quarter worth approximately $130,000. Verition Fund Management LLC purchased a new position in Atkore International Group during the 1st quarter worth approximately $232,000. Teacher Retirement System of Texas purchased a new position in Atkore International Group during the 4th quarter worth approximately $237,000. Finally, Global X Management Co. LLC grew its position in Atkore International Group by 328.3% during the 1st quarter. Global X Management Co. LLC now owns 12,523 shares of the company’s stock worth $249,000 after purchasing an additional 9,599 shares in the last quarter. Hedge funds and other institutional investors own 97.90% of the company’s stock.
Shares of ATKR traded up $0.20 during mid-day trading on Thursday, reaching $22.31. 346,500 shares of the company’s stock traded hands, compared to its average volume of 613,269. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $24.48. The stock has a market cap of $1.04 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.91. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 14.51.
About Atkore International Group
Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.
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