Atkore International Group (ATKR) Releases Earnings Results, Beats Estimates By $0.02 EPS
Atkore International Group (NYSE:ATKR) announced its earnings results on Wednesday. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02, Bloomberg Earnings reports. The business had revenue of $395.80 million for the quarter, compared to analysts’ expectations of $394.49 million. Atkore International Group had a net margin of 5.21% and a return on equity of 26.72%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Atkore International Group updated its Q1 guidance to $0.30-0.35 EPS and its FY18 guidance to $1.45-1.60 EPS.
Atkore International Group (ATKR) opened at $22.03 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 1.78. The stock has a market cap of $1,282.30, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.81. Atkore International Group has a 12 month low of $15.05 and a 12 month high of $27.30.
In other Atkore International Group news, CEO John Patrick Williamson sold 13,536 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $20.00, for a total value of $270,720.00. Following the transaction, the chief executive officer now directly owns 179,091 shares of the company’s stock, valued at approximately $3,581,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James A. Mallak sold 21,867 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 93,855 shares in the company, valued at $1,877,100. The disclosure for this sale can be found here. Insiders sold a total of 197,358 shares of company stock worth $3,947,440 over the last three months. 68.80% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on ATKR shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $20.00 target price on shares of Atkore International Group in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Atkore International Group from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. BidaskClub cut shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Finally, Citigroup reaffirmed an “outperform” rating and issued a $26.00 target price on shares of Atkore International Group in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Atkore International Group presently has a consensus rating of “Buy” and a consensus price target of $23.00.
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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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