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.
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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