Zacks: Brokerages Anticipate Atkore International Group Inc (ATKR) to Post $0.67 EPS

Wall Street analysts expect Atkore International Group Inc (NYSE:ATKR) to report earnings per share (EPS) of $0.67 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Atkore International Group’s earnings. The lowest EPS estimate is $0.66 and the highest is $0.68. Atkore International Group reported earnings of $0.44 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 52.3%. The firm is expected to report its next 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 fiscal year, analysts forecast that the company will post earnings of $2.64 per share, with EPS estimates ranging from $2.60 to $2.68. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Atkore International Group.

Atkore International Group (NYSE:ATKR) last announced its earnings results on Tuesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.22. Atkore International Group had a return on equity of 40.89% and a net margin of 7.14%. The business had revenue of $445.00 million for the quarter, compared to analyst estimates of $415.21 million. During the same period in the previous year, the company earned $0.35 earnings per share.



A number of analysts have recently issued reports on ATKR shares. TheStreet raised Atkore International Group from a “d+” rating to a “c” rating in a research report on Wednesday, February 14th. Citigroup lifted their target price on Atkore International Group to $27.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Zacks Investment Research downgraded Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $23.60.

In related news, insider John Patrick Williamson sold 100,000 shares of Atkore International Group stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $22.57, for a total value of $2,257,000.00. Following the completion of the transaction, the insider now directly owns 296,385 shares in the company, valued at $6,689,409.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Schulte sold 15,000 shares of Atkore International Group stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $22.25, for a total value of $333,750.00. Following the completion of the transaction, the vice president now owns 140,383 shares of the company’s stock, valued at $3,123,521.75. The disclosure for this sale can be found here. Insiders sold 7,351,405 shares of company stock valued at $147,112,321 over the last quarter. Insiders own 51.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new position in Atkore International Group in the first quarter valued at approximately $1,569,000. Dalton Greiner Hartman Maher & Co. boosted its stake in Atkore International Group by 8.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 745,676 shares of the company’s stock valued at $14,802,000 after acquiring an additional 58,005 shares during the period. Atlantic Trust Group LLC boosted its stake in Atkore International Group by 14,400.0% in the first quarter. Atlantic Trust Group LLC now owns 5,075 shares of the company’s stock valued at $101,000 after acquiring an additional 5,040 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Atkore International Group in the first quarter valued at approximately $979,000. Finally, Highbridge Capital Management LLC boosted its stake in Atkore International Group by 267.6% in the first quarter. Highbridge Capital Management LLC now owns 126,664 shares of the company’s stock valued at $2,514,000 after acquiring an additional 92,205 shares during the period. Institutional investors own 97.90% of the company’s stock.

Shares of Atkore International Group traded up $0.20, reaching $22.31, during midday trading on Thursday, according to MarketBeat.com. 346,500 shares of the company’s stock were exchanged, compared to its average volume of 613,269. Atkore International Group has a 52-week low of $15.05 and a 52-week high of $24.48. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.16 and a beta of 1.91. The company has a debt-to-equity ratio of 14.51, a quick ratio of 1.62 and a current ratio of 2.55.

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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