$471.93 Million in Sales Expected for Atkore International Group Inc (ATKR) This Quarter

Equities research analysts predict that Atkore International Group Inc (NYSE:ATKR) will post sales of $471.93 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Atkore International Group’s earnings, with the lowest sales estimate coming in at $467.00 million and the highest estimate coming in at $476.86 million. Atkore International Group reported sales of $395.81 million in the same quarter last year, which indicates a positive year over year growth rate of 19.2%. The business is expected to announce its next earnings report on Wednesday, December 5th.

On average, analysts expect that Atkore International Group will report full year sales of $1.83 billion for the current year, with estimates ranging from $1.82 billion to $1.83 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.88 billion, with estimates ranging from $1.86 billion to $1.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Atkore International Group.

Atkore International Group (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.57 by $0.29. The company had revenue of $498.01 million during the quarter, compared to analysts’ expectations of $444.77 million. Atkore International Group had a net margin of 7.12% and a return on equity of 56.38%.

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Atkore International Group from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, August 30th. Citigroup cut shares of Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, September 7th. Royal Bank of Canada boosted their price target on shares of Atkore International Group to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Atkore International Group currently has a consensus rating of “Buy” and a consensus price target of $29.25.

In other news, CEO John Patrick Williamson sold 100,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $25.64, for a total value of $2,564,000.00. Following the completion of the sale, the chief executive officer now owns 328,385 shares of the company’s stock, valued at approximately $8,419,791.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Peter J. Lariviere sold 7,292 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $27.77, for a total transaction of $202,498.84. Following the completion of the sale, the vice president now directly owns 106,670 shares of the company’s stock, valued at approximately $2,962,225.90. The disclosure for this sale can be found here. In the last three months, insiders sold 617,360 shares of company stock valued at $15,243,768. Corporate insiders own 68.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its stake in shares of Atkore International Group by 20.6% in the 2nd quarter. Engineers Gate Manager LP now owns 71,686 shares of the company’s stock valued at $1,489,000 after purchasing an additional 12,232 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Atkore International Group by 4.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,739,688 shares of the company’s stock valued at $34,532,000 after purchasing an additional 78,441 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Atkore International Group by 2.7% in the 1st quarter. BlackRock Inc. now owns 1,920,151 shares of the company’s stock valued at $38,115,000 after purchasing an additional 49,601 shares in the last quarter. Cortina Asset Management LLC boosted its stake in shares of Atkore International Group by 11.2% in the 1st quarter. Cortina Asset Management LLC now owns 269,122 shares of the company’s stock valued at $5,342,000 after purchasing an additional 27,134 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Atkore International Group by 20.4% in the 2nd quarter. Swiss National Bank now owns 82,700 shares of the company’s stock valued at $1,718,000 after purchasing an additional 14,000 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

ATKR stock opened at $26.28 on Friday. The company has a debt-to-equity ratio of 12.18, a current ratio of 2.39 and a quick ratio of 1.57. Atkore International Group has a one year low of $17.60 and a one year high of $28.67. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.21 and a beta of 2.26.

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.

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