Brokerages expect Atkore International Group Inc (NYSE:ATKR) to report sales of $452.53 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Atkore International Group’s earnings, with estimates ranging from $451.55 million to $453.50 million. Atkore International Group posted sales of $395.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, December 5th.

According to Zacks, analysts expect that Atkore International Group will report full year sales of $1.76 billion for the current year, with estimates ranging from $1.75 billion to $1.76 billion. For the next year, analysts expect that the business will report sales of $1.81 billion per share, with estimates ranging from $1.78 billion to $1.83 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Atkore International Group.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.29. The company had revenue of $498.01 million during 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%.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. TheStreet downgraded shares of Atkore International Group from a “c” rating to a “d” rating in a report on Thursday, May 24th. Finally, Royal Bank of Canada raised their price target on shares of Atkore International Group to $29.00 and gave the company an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Atkore International Group has a consensus rating of “Buy” and an average target price of $27.00.

In other news, major shareholder Allied Holdings L.P. Cd&R sold 6,959,976 shares of Atkore International Group stock in a transaction on Monday, May 21st. The shares were sold at an average price of $19.91, for a total transaction of $138,573,122.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Patrick Williamson sold 118,988 shares of Atkore International Group stock in a transaction on Monday, May 14th. The stock was sold at an average price of $21.01, for a total transaction of $2,499,937.88. Following the sale, the insider now directly owns 237,107 shares of the company’s stock, valued at $4,981,618.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,826,183 shares of company stock valued at $158,848,501. Insiders own 68.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Trust Group LLC lifted its holdings in shares of Atkore International Group by 14,400.0% during the 1st quarter. Atlantic Trust Group LLC now owns 5,075 shares of the company’s stock worth $101,000 after acquiring an additional 5,040 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Atkore International Group during the 1st quarter worth $232,000. Global X Management Co. LLC lifted its holdings in shares of Atkore International Group by 328.3% during the 1st quarter. Global X Management Co. LLC now owns 12,523 shares of the company’s stock worth $249,000 after acquiring an additional 9,599 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Atkore International Group by 3,254.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,898 shares of the company’s stock worth $330,000 after acquiring an additional 15,424 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Atkore International Group during the 4th quarter worth $339,000. 97.45% of the stock is owned by institutional investors.

Atkore International Group traded down $0.45, hitting $24.98, on Wednesday, according to Marketbeat. The company’s stock had a trading volume of 799,005 shares, compared to its average volume of 572,912. The company has a market cap of $1.22 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.37 and a beta of 2.10. Atkore International Group has a 12 month low of $15.66 and a 12 month high of $26.67. The company has a current ratio of 2.39, a quick ratio of 1.62 and a debt-to-equity ratio of 12.18.

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.

Further Reading: Price to Earnings Ratio (PE)

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