Wall Street analysts expect Atkore International Group Inc (NYSE:ATKR) to post earnings of $0.46 per share for the current quarter, according to Zacks. Two analysts have made estimates for Atkore International Group’s earnings, with estimates ranging from $0.45 to $0.46. Atkore International Group posted earnings per share of $0.35 in the same quarter last year, which suggests a positive year-over-year growth rate of 31.4%. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Atkore International Group will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $2.00 to $2.09. For the next financial year, analysts expect 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 averages are a mean average based on a survey of sell-side analysts that cover Atkore International Group.
Atkore International Group (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. The firm had revenue of $414.60 million during the quarter, compared to analysts’ expectations of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share.
A number of brokerages recently weighed in on ATKR. Citigroup set a $26.00 target price on shares of Atkore International Group and gave the stock a “buy” rating in a research report on Thursday, November 30th. TheStreet upgraded shares of Atkore International Group from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. UBS began coverage on shares of Atkore International Group in a research report on Tuesday, January 23rd. They set a “hold” rating and a $23.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Atkore International Group has an average rating of “Buy” and a consensus price target of $23.80.
In related news, insider John Patrick Williamson sold 3,760 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $21.00, for a total transaction of $78,960.00. Following the completion of the transaction, the insider now owns 196,872 shares in the company, valued at $4,134,312. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $21.77, for a total transaction of $374,999,984.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,109,924 shares of company stock valued at $500,173,870. 51.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new position in Atkore International Group during the third quarter valued at $314,000. New York State Common Retirement Fund lifted its position in Atkore International Group by 11.3% during 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 purchasing an additional 28,887 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Atkore International Group by 17.0% during the third quarter. Bank of New York Mellon Corp now owns 262,117 shares of the company’s stock valued at $5,114,000 after purchasing an additional 38,105 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Atkore International Group by 34,843.0% during the third quarter. JPMorgan Chase & Co. now owns 44,727 shares of the company’s stock valued at $876,000 after purchasing an additional 44,599 shares during the last quarter. Finally, Bailard Inc. bought a new position in Atkore International Group during the fourth quarter valued at $324,000. Institutional investors and hedge funds own 99.26% of the company’s stock.
Shares of Atkore International Group (NYSE ATKR) traded up $0.01 during midday trading on Tuesday, hitting $20.69. 402,048 shares of the stock were exchanged, compared to its average volume of 570,582. The company has a current ratio of 2.45, a quick ratio of 1.39 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1,317.94, a PE ratio of 14.67, a PEG ratio of 1.15 and a beta of 1.42. Atkore International Group has a 1 year low of $15.05 and a 1 year high of $26.80.
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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