Analysts expect that Atkore International Group Inc (NYSE:ATKR) will post sales of $497.52 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Atkore International Group’s earnings, with estimates ranging from $490.90 million to $504.13 million. Atkore International Group reported sales of $445.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.8%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, May 7th.
According to Zacks, analysts expect that Atkore International Group will report full year sales of $2.01 billion for the current financial year, with estimates ranging from $2.00 billion to $2.03 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.08 billion, with estimates ranging from $2.06 billion to $2.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Atkore International Group.
Atkore International Group (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The firm had revenue of $452.03 million for the quarter, compared to analyst estimates of $449.53 million. Atkore International Group had a return on equity of 142.82% and a net margin of 7.28%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share.
In related news, insider Michael J. Schulte sold 57,291 shares of Atkore International Group stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $24.22, for a total transaction of $1,387,588.02. Following the transaction, the insider now directly owns 188,202 shares in the company, valued at $4,558,252.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.03% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackay Shields LLC purchased a new position in shares of Atkore International Group in the fourth quarter valued at about $1,582,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Atkore International Group by 35.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 90,100 shares of the company’s stock valued at $1,788,000 after acquiring an additional 23,825 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Atkore International Group by 50.2% in the third quarter. MetLife Investment Advisors LLC now owns 27,708 shares of the company’s stock valued at $735,000 after acquiring an additional 9,263 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Atkore International Group in the fourth quarter valued at about $35,000. Finally, MUFG Securities EMEA plc lifted its position in shares of Atkore International Group by 100.7% in the fourth quarter. MUFG Securities EMEA plc now owns 111,000 shares of the company’s stock valued at $2,202,000 after acquiring an additional 55,700 shares in the last quarter. Institutional investors own 97.89% of the company’s stock.
Shares of NYSE ATKR traded up $0.11 during midday trading on Thursday, hitting $24.11. 278,363 shares of the stock traded hands, compared to its average volume of 266,441. Atkore International Group has a one year low of $17.47 and a one year high of $28.67. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 9.72 and a beta of 1.91. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 7.07.
About Atkore International Group
Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.
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