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

Atkore International Group (NYSE:ATKR) released its quarterly earnings data on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the 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 return on equity of 78.16% and a net margin of 7.45%. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS.

ATKR stock traded down $0.58 during midday trading on Friday, hitting $20.06. The company’s stock had a trading volume of 14,313 shares, compared to its average volume of 331,397. The stock has a market capitalization of $969.54 million, a PE ratio of 8.26, a price-to-earnings-growth ratio of 0.85 and a beta of 2.78. Atkore International Group has a 12 month low of $17.47 and a 12 month high of $28.67. The company has a current ratio of 2.39, a quick ratio of 1.57 and a debt-to-equity ratio of 12.18.

In related news, insider John Patrick Williamson sold 22,678 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $27.00, for a total value of $612,306.00. Following the transaction, the insider now directly owns 251,063 shares of the company’s stock, valued at approximately $6,778,701. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 68.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co LLC raised its stake in Atkore International Group by 17.1% during the 2nd quarter. Global X Management Co LLC now owns 14,670 shares of the company’s stock valued at $305,000 after buying an additional 2,147 shares during the last quarter. Bailard Inc. raised its stake in Atkore International Group by 9.5% during the 2nd quarter. Bailard Inc. now owns 31,100 shares of the company’s stock valued at $646,000 after buying an additional 2,700 shares during the last quarter. Verition Fund Management LLC raised its stake in Atkore International Group by 23.9% during the 3rd quarter. Verition Fund Management LLC now owns 19,831 shares of the company’s stock valued at $526,000 after buying an additional 3,825 shares during the last quarter. First Hawaiian Bank purchased a new stake in Atkore International Group during the 3rd quarter valued at $103,000. Finally, Tower Research Capital LLC TRC raised its stake in Atkore International Group by 637.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,739 shares of the company’s stock valued at $126,000 after buying an additional 4,096 shares during the last quarter. Institutional investors and hedge funds own 95.74% of the company’s stock.

Several equities analysts recently issued reports on the company. Citigroup set a $26.00 price objective on Atkore International Group and gave the company a “hold” rating in a research report on Friday. Royal Bank of Canada upped their price objective on Atkore International Group to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Zacks Investment Research raised Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Friday, August 10th. Finally, UBS Group upped their price objective on Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.25.

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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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