Brokerages expect Atkore International Group Inc (NASDAQ:ATKR) to post sales of $392.80 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Atkore International Group’s earnings. The lowest sales estimate is $384.14 million and the highest is $403.90 million. Atkore International Group posted sales of $416.24 million in the same quarter last year, which suggests a negative year over year growth rate of 5.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, December 5th.
On average, analysts expect that Atkore International Group will report full year sales of $392.80 million for the current fiscal year, with estimates ranging from $1.49 billion to $1.51 billion. For the next year, analysts anticipate that the company will report sales of $1.55 billion per share, with estimates ranging from $1.52 billion to $1.57 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Atkore International Group.
Atkore International Group (NASDAQ:ATKR) last released its earnings results on Tuesday, August 8th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $397.70 million for the quarter, compared to analyst estimates of $424.49 million. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The company’s revenue was up .5% compared to the same quarter last year.
A number of research analysts recently weighed in on ATKR shares. Credit Suisse Group upgraded shares of Atkore International Group from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Wednesday, August 9th. TheStreet lowered shares of Atkore International Group from a “c-” rating to a “d+” rating in a research report on Wednesday, August 23rd. Citigroup Inc. restated a “buy” rating and set a $22.00 price target (down from $28.00) on shares of Atkore International Group in a research report on Thursday, August 10th. BidaskClub raised shares of Atkore International Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research downgraded shares of Atkore International Group from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.75.
In other news, insider John Patrick Williamson sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $21.78, for a total value of $1,524,600.00. Following the transaction, the insider now owns 201,625 shares in the company, valued at $4,391,392.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of institutional investors have recently modified their holdings of ATKR. Bronfman E.L. Rothschild L.P. lifted its position in Atkore International Group by 34.1% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the company’s stock valued at $110,000 after purchasing an additional 1,065 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Atkore International Group in the first quarter worth $132,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Atkore International Group in the first quarter worth $139,000. Legal & General Group Plc increased its stake in shares of Atkore International Group by 300.6% in the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock worth $183,000 after purchasing an additional 6,108 shares in the last quarter. Finally, American International Group Inc. purchased a new stake in shares of Atkore International Group in the first quarter worth $194,000.
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Shares of Atkore International Group (NASDAQ:ATKR) traded up 0.51% during trading on Thursday, reaching $17.66. The company’s stock had a trading volume of 349,983 shares. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $27.30. The firm has a market cap of $1.13 billion and a PE ratio of 14.57. The stock’s 50 day moving average price is $18.16 and its 200-day moving average price is $22.58.
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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