Zacks: Brokerages Expect Atkore International Group Inc (ATKR) to Post $0.34 Earnings Per Share

Wall Street analysts predict that Atkore International Group Inc (NYSE:ATKR) will report $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Atkore International Group’s earnings. Atkore International Group reported earnings per share of $0.28 in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.4%. The company is expected to report its next quarterly earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Atkore International Group will report full year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.54 to $1.59. For the next financial year, analysts anticipate that the firm will post earnings of $1.64 per share, with EPS estimates ranging from $1.60 to $1.68. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Atkore International Group.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Wednesday, November 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Atkore International Group had a return on equity of 23.76% and a net margin of 5.27%. The business had revenue of $395.80 million for the quarter, compared to analyst estimates of $394.49 million. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis.

Several equities analysts recently issued reports on the company. TheStreet upgraded Atkore International Group from a “d+” rating to a “c-” rating in a research note on Wednesday, November 29th. Citigroup set a $26.00 price target on Atkore International Group and gave the company a “buy” rating in a research note on Thursday, November 30th. BidaskClub lowered Atkore International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Royal Bank of Canada restated a “buy” rating and set a $23.00 price target on shares of Atkore International Group in a research note on Friday, October 13th. Finally, UBS Group lowered Atkore International Group from a “buy” rating to a “neutral” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Atkore International Group has an average rating of “Buy” and a consensus price target of $23.00.

In other news, CEO John Patrick Williamson sold 13,536 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $20.00, for a total value of $270,720.00. Following the sale, the chief executive officer now directly owns 179,091 shares in the company, valued at approximately $3,581,820. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James A. Mallak sold 21,867 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.00, for a total value of $437,340.00. Following the completion of the sale, the chief financial officer now owns 93,855 shares in the company, valued at $1,877,100. The disclosure for this sale can be found here. Insiders have sold 501,650 shares of company stock worth $10,418,317 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Atkore International Group by 18.3% in the 2nd quarter. FMR LLC now owns 1,527,400 shares of the company’s stock valued at $34,443,000 after purchasing an additional 235,900 shares during the period. Lazard Asset Management LLC grew its stake in shares of Atkore International Group by 44.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,047,049 shares of the company’s stock valued at $46,160,000 after purchasing an additional 631,873 shares during the period. Citigroup Inc. grew its stake in shares of Atkore International Group by 180.8% in the 2nd quarter. Citigroup Inc. now owns 18,509 shares of the company’s stock valued at $417,000 after purchasing an additional 11,918 shares during the period. Vanguard Group Inc. grew its stake in shares of Atkore International Group by 13.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock valued at $80,044,000 after purchasing an additional 417,268 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of Atkore International Group in the 3rd quarter valued at approximately $373,000. Institutional investors own 98.33% of the company’s stock.

Atkore International Group (NYSE ATKR) opened at $21.73 on Friday. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $27.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.44 and a current ratio of 2.39. The stock has a market capitalization of $1,370.00 and a PE ratio of 17.11.

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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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