Atkore International Group Inc (ATKR) Updates FY17 Earnings Guidance

Atkore International Group Inc (NASDAQ:ATKR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.37-1.45 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.57.

Shares of Atkore International Group Inc (NASDAQ ATKR) traded up 0.99% during midday trading on Friday, reaching $16.31. The company’s stock had a trading volume of 369,413 shares. The firm’s 50 day moving average is $20.52 and its 200 day moving average is $23.56. Atkore International Group Inc has a 52 week low of $15.05 and a 52 week high of $27.30. The firm has a market capitalization of $1.05 billion and a price-to-earnings ratio of 13.46.

Atkore International Group (NASDAQ:ATKR) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The business had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $424.49 million. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that Atkore International Group Inc will post $1.43 EPS for the current fiscal year.

Several analysts recently weighed in on ATKR shares. Royal Bank Of Canada reissued a buy rating and issued a $20.00 price objective on shares of Atkore International Group in a report on Wednesday, August 9th. Zacks Investment Research lowered Atkore International Group from a hold rating to a strong sell rating in a report on Friday, August 11th. Citigroup Inc. reissued a buy rating and issued a $22.00 price objective (down from $28.00) on shares of Atkore International Group in a report on Thursday, August 10th. Finally, Credit Suisse Group raised Atkore International Group from a neutral rating to an outperform rating and set a $22.00 price objective for the company in a report on Wednesday, August 9th.

In related news, insider John Patrick Williamson sold 70,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $21.78, for a total value of $1,524,600.00. Following the completion of the sale, the insider now directly owns 201,625 shares of the company’s stock, valued at $4,391,392.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ILLEGAL ACTIVITY WARNING: “[[title]]” was originally published by [[site]] and is the sole property of of [[site]]. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at [[permalink]].

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.