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

Atkore International Group (NYSE:ATKR) released its earnings results on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08, Bloomberg Earnings reports. Atkore International Group had a net margin of 7.45% and a return on equity of 78.16%. The company 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 firm posted $0.40 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year.

ATKR traded down $0.32 during trading on Friday, reaching $20.32. 66,059 shares of the company traded hands, compared to its average volume of 331,397. The company has a debt-to-equity ratio of 12.18, a current ratio of 2.39 and a quick ratio of 1.57. Atkore International Group has a 12-month low of $17.47 and a 12-month high of $28.67. The firm has a market cap of $969.54 million, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 0.85 and a beta of 2.78.

A number of equities research analysts have issued reports on ATKR shares. Royal Bank of Canada increased their price objective on shares of Atkore International Group to $29.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. Zacks Investment Research raised shares of 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. UBS Group increased their price objective on shares of Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, August 30th. Finally, Citigroup lowered shares of 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. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Atkore International Group presently has an average rating of “Hold” and a consensus price target of $28.25.



In other Atkore International Group news, insider John Patrick Williamson sold 22,678 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $27.00, for a total transaction of $612,306.00. Following the completion of the sale, the insider now directly owns 251,063 shares of the company’s stock, valued at approximately $6,778,701. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 68.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Atkore International Group by 12.2% in the third quarter. Vanguard Group Inc. now owns 4,666,758 shares of the company’s stock valued at $123,810,000 after purchasing an additional 509,278 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Atkore International Group by 75.6% in the second quarter. BlackRock Inc. now owns 3,372,105 shares of the company’s stock valued at $70,041,000 after purchasing an additional 1,451,954 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Atkore International Group by 38.9% in the second quarter. Wells Fargo & Company MN now owns 2,417,130 shares of the company’s stock valued at $50,204,000 after purchasing an additional 677,442 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Atkore International Group by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,889,737 shares of the company’s stock valued at $39,249,000 after purchasing an additional 29,364 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Atkore International Group by 11.0% in the third quarter. Prudential Financial Inc. now owns 1,469,491 shares of the company’s stock valued at $38,986,000 after purchasing an additional 145,629 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History for Atkore International Group (NYSE:ATKR)

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