Atkore International Group Inc (ATKR) Announces Earnings Results
Atkore International Group Inc (NASDAQ:ATKR) posted its quarterly earnings results on Tuesday. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. The firm earned $416.24 million during the quarter, compared to the consensus estimate of $423.05 million. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share.
Shares of Atkore International Group (NASDAQ:ATKR) traded up 0.28% during mid-day trading on Tuesday, reaching $21.46. The company had a trading volume of 137,201 shares. The stock has a 50 day moving average of $19.78 and a 200-day moving average of $17.98. The firm has a market capitalization of $1.34 billion and a price-to-earnings ratio of 83.18. Atkore International Group has a one year low of $14.17 and a one year high of $22.49.
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ATKR has been the topic of a number of analyst reports. Credit Suisse Group AG reissued a “neutral” rating on shares of Atkore International Group in a research note on Tuesday, August 2nd. Zacks Investment Research raised Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, October 4th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.14.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC purchased a new position in shares of Atkore International Group during the third quarter valued at approximately $242,000. BlackRock Fund Advisors bought a new stake in Atkore International Group during the third quarter worth $5,672,000. BlackRock Inc. bought a new stake in Atkore International Group during the third quarter worth $196,000. BlackRock Investment Management LLC bought a new stake in Atkore International Group during the third quarter worth $879,000. Finally, BlackRock Advisors LLC bought a new stake in Atkore International Group during the third quarter worth $204,000.
About Atkore International Group
Atkore International Group Inc, located in the US, manufactures and wholesales galvanized steel tubes and pipes, electrical conduit, armored wire and cable, metal framing systems and building components. It is also a holding company.
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