Brokerages Anticipate Atkore International Group Inc (ATKR) Will Announce Quarterly Sales of $377.56 Million

Equities analysts expect Atkore International Group Inc (NYSE:ATKR) to post sales of $377.56 million for the current quarter, according to Zacks. Two analysts have issued estimates for Atkore International Group’s earnings, with the lowest sales estimate coming in at $372.70 million and the highest estimate coming in at $382.42 million. Atkore International Group reported sales of $337.59 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The company is expected to issue its next quarterly earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Atkore International Group will report full-year sales of $377.56 million for the current year, with estimates ranging from $1.52 billion to $1.66 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.68 billion per share, with estimates ranging from $1.68 billion to $1.69 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Atkore International Group.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Wednesday, November 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $395.80 million for the quarter, compared to analyst estimates of $394.49 million. Atkore International Group had a net margin of 5.63% and a return on equity of 26.22%. Atkore International Group’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share.

A number of research analysts have recently issued reports on ATKR shares. BidaskClub upgraded shares of Atkore International Group from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Royal Bank of Canada restated a “buy” rating and set a $20.00 target price on shares of Atkore International Group in a research report on Friday, September 15th. Citigroup restated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Atkore International Group in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of Atkore International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, UBS Group lowered shares of Atkore International Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $19.00 to $21.00 in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Atkore International Group currently has a consensus rating of “Buy” and an average price target of $23.00.

In related news, CFO James A. Mallak sold 21,867 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.00, for a total transaction of $437,340.00. Following the transaction, the chief financial officer now owns 93,855 shares of the company’s stock, valued at $1,877,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Patrick Williamson sold 13,536 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $20.00, for a total transaction of $270,720.00. Following the transaction, the chief executive officer now directly owns 179,091 shares in the company, valued at approximately $3,581,820. The disclosure for this sale can be found here. Insiders have sold 501,751 shares of company stock worth $10,420,337 in the last three months. Insiders own 51.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Macquarie Group Ltd. acquired a new stake in shares of Atkore International Group in the second quarter worth $23,777,000. Van Den Berg Management I Inc. increased its position in shares of Atkore International Group by 118.7% in the third quarter. Van Den Berg Management I Inc. now owns 1,373,035 shares of the company’s stock worth $26,788,000 after acquiring an additional 745,160 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Atkore International Group by 44.6% in the second quarter. Lazard Asset Management LLC now owns 2,047,049 shares of the company’s stock worth $46,160,000 after acquiring an additional 631,873 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Atkore International Group by 94.9% in the second quarter. Wells Fargo & Company MN now owns 1,272,105 shares of the company’s stock worth $28,686,000 after acquiring an additional 619,468 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Atkore International Group by 13.3% in the second quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock worth $80,044,000 after acquiring an additional 417,268 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors.

Shares of Atkore International Group (NYSE:ATKR) traded up $0.10 during trading on Thursday, hitting $21.20. 134,000 shares of the stock were exchanged, compared to its average volume of 414,214. Atkore International Group has a twelve month low of $15.05 and a twelve month high of $27.30. The company has a current ratio of 2.39, a quick ratio of 1.44 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $1,330.00 and a price-to-earnings ratio of 16.69.

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Atkore International Group Company Profile

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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