Analysts Anticipate Atkore International Group Inc (ATKR) to Post $0.46 Earnings Per Share

Wall Street brokerages predict that Atkore International Group Inc (NYSE:ATKR) will post earnings per share of $0.46 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Atkore International Group’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.46. Atkore International Group reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 31.4%. The business is expected to announce its next quarterly earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that Atkore International Group will report full year earnings of $2.05 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.09. For the next financial year, analysts expect that the business will report earnings of $2.20 per share, with EPS estimates ranging from $2.15 to $2.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Atkore International Group.

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Atkore International Group (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $414.60 million for the quarter, compared to the consensus estimate of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share.

A number of equities research analysts have issued reports on ATKR shares. UBS started 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. Citigroup raised their price target on shares of Atkore International Group to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Zacks Investment Research upgraded shares of Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research note on Thursday, February 8th. Finally, TheStreet upgraded shares of Atkore International Group from a “d+” rating to a “c” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.80.

Shares of Atkore International Group stock opened at $18.85 on Friday. The stock has a market cap of $1,198.99, a price-to-earnings ratio of 14.84, a PEG ratio of 1.05 and a beta of 1.62. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.39 and a current ratio of 2.45. Atkore International Group has a 12-month low of $15.05 and a 12-month high of $26.80.

In other news, insider John Patrick Williamson sold 3,760 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $21.00, for a total value of $78,960.00. Following the sale, the insider now directly owns 196,872 shares in the company, valued at approximately $4,134,312. 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. Over the last 90 days, insiders sold 23,109,924 shares of company stock worth $500,173,870. 68.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in Atkore International Group in the 4th quarter valued at approximately $339,000. Crestline Management LP bought a new position in Atkore International Group in the 4th quarter valued at approximately $1,500,000. Millennium Management LLC raised its holdings in Atkore International Group by 202.6% in the 4th quarter. Millennium Management LLC now owns 760,532 shares of the company’s stock valued at $16,313,000 after buying an additional 509,199 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Atkore International Group by 41.8% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 221,682 shares of the company’s stock valued at $4,754,000 after buying an additional 65,400 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in Atkore International Group by 3.3% in the 4th quarter. Teachers Advisors LLC now owns 558,624 shares of the company’s stock valued at $11,982,000 after buying an additional 17,825 shares during the last quarter. Institutional investors and hedge funds own 99.26% 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.

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