Wall Street brokerages predict that Atkore International Group Inc (NYSE:ATKR) will report $471.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Atkore International Group’s earnings, with the highest sales estimate coming in at $476.86 million and the lowest estimate coming in at $467.00 million. Atkore International Group reported sales of $395.81 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.2%. The firm is scheduled to issue its next quarterly 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 financial year, with estimates ranging from $1.82 billion to $1.83 billion. For the next 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’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Atkore International Group.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.29. The company had revenue of $498.01 million for the quarter, compared to the consensus estimate 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 recently issued reports on ATKR shares. Citigroup downgraded shares of Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, September 7th. UBS Group raised their price objective on shares of Atkore International Group from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, August 30th. Royal Bank of Canada raised their price objective on shares of Atkore International Group to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $29.25.

In other Atkore International Group news, VP Peter J. Lariviere sold 7,292 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 106,670 shares in the company, valued at approximately $2,962,225.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Patrick Williamson sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $25.64, for a total transaction of $2,564,000.00. Following the sale, the chief executive officer now owns 328,385 shares in the company, valued at approximately $8,419,791.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 617,360 shares of company stock worth $15,243,768. 68.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP raised its stake in Atkore International Group by 20.6% during the 2nd quarter. Engineers Gate Manager LP now owns 71,686 shares of the company’s stock worth $1,489,000 after acquiring an additional 12,232 shares during the period. Wells Fargo & Company MN raised its stake in Atkore International Group by 4.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,739,688 shares of the company’s stock worth $34,532,000 after acquiring an additional 78,441 shares during the period. BlackRock Inc. raised its stake in Atkore International Group by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,920,151 shares of the company’s stock worth $38,115,000 after acquiring an additional 49,601 shares during the period. Cortina Asset Management LLC raised its stake in Atkore International Group by 11.2% during the 1st quarter. Cortina Asset Management LLC now owns 269,122 shares of the company’s stock worth $5,342,000 after acquiring an additional 27,134 shares during the period. Finally, Swiss National Bank raised its stake in Atkore International Group by 20.4% during the 2nd quarter. Swiss National Bank now owns 82,700 shares of the company’s stock worth $1,718,000 after acquiring an additional 14,000 shares during the period. Institutional investors own 96.19% of the company’s stock.

ATKR opened at $26.28 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.57 and a debt-to-equity ratio of 12.18. The company has a market capitalization of $1.18 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.21 and a beta of 2.26. Atkore International Group has a 12-month low of $17.60 and a 12-month high of $28.67.

Atkore International Group Company Profile

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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