Atkore International Group (NYSE:ATKR) posted its earnings results on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08, Bloomberg Earnings reports. The business had revenue of $477.57 million for the quarter, compared to analysts’ expectations of $469.05 million. Atkore International Group had a net margin of 7.45% and a return on equity of 78.16%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS.
ATKR traded down $0.32 during midday trading on Friday, hitting $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 quick ratio of 1.57 and a current ratio of 2.39. The stock has a market capitalization of $969.54 million, a P/E ratio of 8.19, a P/E/G ratio of 0.85 and a beta of 2.78. Atkore International Group has a 52 week low of $17.47 and a 52 week high of $28.67.
Several research firms have issued reports on ATKR. Citigroup set a $26.00 target price on shares of Atkore International Group and gave the company a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of Atkore International Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 20th. UBS Group upped their target price on shares of Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Finally, Royal Bank of Canada upped their target price on shares of Atkore International Group to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Atkore International Group presently has a consensus rating of “Hold” and an average target price of $28.25.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Atkore International Group by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,666,758 shares of the company’s stock worth $123,810,000 after purchasing an additional 509,278 shares during the period. Sawgrass Asset Management LLC bought a new position in shares of Atkore International Group in the 3rd quarter worth approximately $322,000. TIAA CREF Investment Management LLC lifted its stake in shares of Atkore International Group by 9.3% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 711,636 shares of the company’s stock worth $18,880,000 after purchasing an additional 60,499 shares during the period. Teachers Advisors LLC lifted its stake in shares of Atkore International Group by 11.8% in the 3rd quarter. Teachers Advisors LLC now owns 879,193 shares of the company’s stock worth $23,325,000 after purchasing an additional 92,567 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Atkore International Group by 92.6% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 80,700 shares of the company’s stock worth $2,141,000 after purchasing an additional 38,800 shares during the period. Hedge funds and other institutional investors own 95.74% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Atkore International Group (ATKR) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS” was originally reported by WKRB News and is the property of of WKRB News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.wkrb13.com/2018/11/30/atkore-international-group-atkr-announces-quarterly-earnings-results-beats-expectations-by-0-08-eps.html.
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.
Featured Story: Book Value Per Share – BVPS
Receive News & Ratings for Atkore International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore International Group and related companies with MarketBeat.com's FREE daily email newsletter.