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Atkore International Group Inc. (ATKR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Atkore International Group Inc. (ATKR - Free Report) closed at $19.31, marking a -1.23% move from the previous day. This change lagged the S&P 500's 1.09% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 2.01%.
Heading into today, shares of the company had lost 25.04% over the past month, lagging the Industrial Products sector's loss of 14.08% and the S&P 500's loss of 7.81% in that time.
Investors will be hoping for strength from ATKR as it approaches its next earnings release, which is expected to be December 5, 2018. On that day, ATKR is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 105.71%. Meanwhile, our latest consensus estimate is calling for revenue of $471.93 million, up 19.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for ATKR. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ATKR is currently a Zacks Rank #2 (Buy).
Digging into valuation, ATKR currently has a Forward P/E ratio of 6.7. Its industry sports an average Forward P/E of 8.89, so we one might conclude that ATKR is trading at a discount comparatively.
We can also see that ATKR currently has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wire and Cable Products stocks are, on average, holding a PEG ratio of 1.14 based on yesterday's closing prices.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 42, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Atkore International Group Inc. (ATKR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Atkore International Group Inc. (ATKR - Free Report) closed at $19.31, marking a -1.23% move from the previous day. This change lagged the S&P 500's 1.09% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 2.01%.
Heading into today, shares of the company had lost 25.04% over the past month, lagging the Industrial Products sector's loss of 14.08% and the S&P 500's loss of 7.81% in that time.
Investors will be hoping for strength from ATKR as it approaches its next earnings release, which is expected to be December 5, 2018. On that day, ATKR is projected to report earnings of $0.72 per share, which would represent year-over-year growth of 105.71%. Meanwhile, our latest consensus estimate is calling for revenue of $471.93 million, up 19.23% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for ATKR. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ATKR is currently a Zacks Rank #2 (Buy).
Digging into valuation, ATKR currently has a Forward P/E ratio of 6.7. Its industry sports an average Forward P/E of 8.89, so we one might conclude that ATKR is trading at a discount comparatively.
We can also see that ATKR currently has a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wire and Cable Products stocks are, on average, holding a PEG ratio of 1.14 based on yesterday's closing prices.
The Wire and Cable Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 42, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.