Atkore International Group (NYSE:ATKR) Issues FY 2019 Earnings Guidance

Atkore International Group (NYSE:ATKR) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $3.55-3.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.33. Atkore International Group also updated its FY19 guidance to $3.55 to $3.63 EPS.

NYSE ATKR traded down $0.69 during trading hours on Friday, hitting $29.33. The company’s stock had a trading volume of 399,287 shares, compared to its average volume of 357,090. The stock has a fifty day moving average of $26.19. Atkore International Group has a twelve month low of $17.47 and a twelve month high of $30.27. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.83 and a beta of 1.81. The company has a quick ratio of 1.66, a current ratio of 2.53 and a debt-to-equity ratio of 5.58.

Atkore International Group (NYSE:ATKR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.23. Atkore International Group had a net margin of 6.65% and a return on equity of 93.22%. The business had revenue of $493.49 million for the quarter, compared to analyst estimates of $528.63 million. During the same period in the prior year, the business posted $0.86 earnings per share. Atkore International Group’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atkore International Group will post 2.73 EPS for the current year.

Several equities analysts recently weighed in on ATKR shares. Zacks Investment Research lowered shares of Atkore International Group from a buy rating to a hold rating in a report on Monday, July 22nd. TheStreet upgraded shares of Atkore International Group from a c rating to a b- rating in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating, Atkore International Group currently has a consensus rating of Hold and an average target price of $27.25.

In related news, insider Peter J. Lariviere sold 9,640 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $24.66, for a total value of $237,722.40. Following the transaction, the insider now directly owns 122,082 shares in the company, valued at $3,010,542.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.03% of the company’s stock.

About Atkore International Group

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

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