Atkore International Group (NYSE:ATKR) Updates FY19 Earnings Guidance

Atkore International Group (NYSE:ATKR) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.55 to $3.63 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.34. Atkore International Group also updated its FY 2019 guidance to $3.55-3.63 EPS.

Shares of NYSE ATKR traded down $0.69 during midday trading on Friday, reaching $29.33. 399,287 shares of the company were exchanged, compared to its average volume of 357,090. The company has a current ratio of 2.53, a quick ratio of 1.66 and a debt-to-equity ratio of 5.58. Atkore International Group has a 1 year low of $17.47 and a 1 year high of $30.27. The company’s fifty day moving average is $26.19. The company has a market capitalization of $1.31 billion, a PE ratio of 11.83 and a beta of 1.81.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.23. Atkore International Group had a return on equity of 93.22% and a net margin of 6.65%. The firm had revenue of $493.49 million for the quarter, compared to analyst estimates of $528.63 million. During the same quarter last year, the company posted $0.86 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that Atkore International Group will post 2.73 earnings per share for the current year.

ATKR has been the topic of a number of research reports. TheStreet raised Atkore International Group from a c rating to a b- rating in a report on Thursday, May 23rd. Zacks Investment Research lowered Atkore International Group from a buy rating to a hold rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $27.25.

In other Atkore International Group news, insider Peter J. Lariviere sold 9,640 shares of Atkore International Group stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $24.66, for a total value of $237,722.40. Following the sale, the insider now owns 122,082 shares of the company’s stock, valued at approximately $3,010,542.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.03% of the stock is currently owned by insiders.

Atkore International Group Company Profile

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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