Atkore International Group (ATKR) Issues Earnings Results, Beats Estimates By $0.08 EPS

Atkore International Group (NYSE:ATKR) issued its quarterly earnings data on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08, Bloomberg Earnings reports. Atkore International Group had a return on equity of 78.16% and a net margin of 7.45%. The business had revenue of $477.57 million during the quarter, compared to analyst estimates of $469.05 million. During the same period in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year.

Shares of ATKR stock opened at $20.64 on Friday. Atkore International Group has a 12-month low of $17.47 and a 12-month high of $28.67. The company has a market capitalization of $969.54 million, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 0.85 and a beta of 2.78. The company has a debt-to-equity ratio of 12.18, a current ratio of 2.39 and a quick ratio of 1.57.

In related news, CEO John Patrick Williamson sold 100,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $25.64, for a total value of $2,564,000.00. Following the completion of the transaction, the chief executive officer now directly owns 328,385 shares of the company’s stock, valued at approximately $8,419,791.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 68.80% of the company’s stock.



Hedge funds and other institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP boosted its stake in Atkore International Group by 20.6% during the 2nd quarter. Engineers Gate Manager LP now owns 71,686 shares of the company’s stock valued at $1,489,000 after purchasing an additional 12,232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Atkore International Group during the 3rd quarter valued at $1,204,000. Schwab Charles Investment Management Inc. boosted its stake in Atkore International Group by 18.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 575,238 shares of the company’s stock valued at $11,948,000 after purchasing an additional 88,955 shares in the last quarter. Swiss National Bank boosted its stake in Atkore International Group by 20.4% during the 2nd quarter. Swiss National Bank now owns 82,700 shares of the company’s stock valued at $1,718,000 after purchasing an additional 14,000 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new position in Atkore International Group during the 3rd quarter valued at $919,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the company. UBS Group increased their price objective on Atkore International Group from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, August 30th. Citigroup lowered Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Friday, September 7th. Zacks Investment Research raised Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Friday, August 10th. Finally, Royal Bank of Canada increased their price objective on Atkore International Group to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Atkore International Group has an average rating of “Hold” and an average price target of $29.25.

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Atkore International Group Company Profile

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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Earnings History for Atkore International Group (NYSE:ATKR)

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