Wall Street brokerages predict that Atkore International Group Inc (NASDAQ:ATKR) will announce $427.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Atkore International Group’s earnings, with the lowest sales estimate coming in at $422.60 million and the highest estimate coming in at $435.88 million. Atkore International Group posted sales of $395.72 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The company is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that Atkore International Group will report full year sales of $427.88 million for the current fiscal year, with estimates ranging from $1.56 billion to $1.58 billion. For the next financial year, analysts forecast that the business will report sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Atkore International Group.
Atkore International Group (NASDAQ:ATKR) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.08. Atkore International Group had a return on equity of 25.87% and a net margin of 5.08%. The company had revenue of $372.79 million for the quarter, compared to analyst estimates of $363.74 million. During the same period in the prior year, the business earned $0.31 earnings per share. Atkore International Group’s revenue for the quarter was up 5.6% compared to the same quarter last year.
ATKR has been the subject of a number of recent research reports. Royal Bank Of Canada restated a “buy” rating and set a $31.00 price objective on shares of Atkore International Group in a research note on Tuesday, April 11th. Zacks Investment Research downgraded Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd.
In other Atkore International Group news, insider John Patrick Williamson sold 70,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $21.78, for a total transaction of $1,524,600.00. Following the completion of the transaction, the insider now owns 201,625 shares in the company, valued at approximately $4,391,392.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James A. Mallak sold 12,146 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $26.01, for a total value of $315,917.46. Following the transaction, the vice president now owns 84,134 shares of the company’s stock, valued at approximately $2,188,325.34. The disclosure for this sale can be found here. Insiders have sold a total of 179,941 shares of company stock valued at $4,383,652 in the last quarter.
Several hedge funds have recently made changes to their positions in ATKR. Bronfman E.L. Rothschild L.P. raised its stake in shares of Atkore International Group by 34.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the company’s stock valued at $110,000 after buying an additional 1,065 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Atkore International Group during the first quarter valued at $132,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Atkore International Group during the first quarter valued at $139,000. American International Group Inc. purchased a new stake in shares of Atkore International Group during the first quarter valued at $194,000. Finally, Trexquant Investment LP purchased a new stake in shares of Atkore International Group during the first quarter valued at $218,000.
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Shares of Atkore International Group (NASDAQ ATKR) opened at 20.82 on Tuesday. The company’s 50 day moving average price is $22.15 and its 200 day moving average price is $24.30. Atkore International Group has a one year low of $15.27 and a one year high of $27.30. The firm has a market capitalization of $1.32 billion and a P/E ratio of 18.46.
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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