Atkore International Group (ATKR) Announces Earnings Results, Beats Estimates By $0.09 EPS

Atkore International Group (NYSE:ATKR) released its quarterly earnings results on Tuesday. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09, Bloomberg Earnings reports. Atkore International Group had a net margin of 5.97% and a return on equity of 28.03%. The business had revenue of $414.60 million for the quarter, compared to analyst estimates of $382.89 million. During the same period last year, the firm earned $0.28 earnings per share. Atkore International Group’s revenue for the quarter was up 22.8% compared to the same quarter last year. Atkore International Group updated its Q1 guidance to $0.42-0.48 EPS and its FY18 guidance to $1.95-2.15 EPS.

Shares of Atkore International Group (ATKR) opened at $21.45 on Thursday. The stock has a market cap of $1,352.99, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.44 and a current ratio of 2.39. Atkore International Group has a one year low of $15.05 and a one year high of $27.06.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Atkore International Group from a “sell” rating to a “hold” rating in a research report on Thursday. Citigroup increased their price objective on shares of Atkore International Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. UBS Group initiated coverage on shares of Atkore International Group in a research note on Tuesday, January 23rd. They set a “hold” rating and a $23.00 price objective on the stock. TheStreet upgraded shares of Atkore International Group from a “d+” rating to a “c-” rating in a research note on Wednesday, November 29th. Finally, BidaskClub downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $24.00.

In other news, insider John Patrick Williamson sold 5,352 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $20.00, for a total value of $107,040.00. Following the sale, the insider now directly owns 170,907 shares in the company, valued at approximately $3,418,140. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $21.77, for a total transaction of $374,999,984.03. The disclosure for this sale can be found here. Insiders have sold 17,557,923 shares of company stock worth $382,032,981 over the last quarter. Corporate insiders own 68.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Atkore International Group by 71.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,807,578 shares of the company’s stock valued at $35,266,000 after purchasing an additional 753,154 shares in the last quarter. FMR LLC boosted 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 in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Atkore International Group by 14.9% in the 3rd quarter. Wells Fargo & Company MN now owns 1,461,310 shares of the company’s stock valued at $28,510,000 after purchasing an additional 189,205 shares in the last quarter. Finally, Van Den Berg Management I Inc. boosted its stake in shares of Atkore International Group by 118.7% in the 3rd quarter. Van Den Berg Management I Inc. now owns 1,373,035 shares of the company’s stock valued at $26,788,000 after purchasing an additional 745,160 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

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About Atkore International Group

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.

Earnings History for Atkore International Group (NYSE:ATKR)

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