Stock Alert: Atkore International Group Touches New High Following Q1 Results, Outlook

(RTTNews) - Shares of Electrical Raceway products maker Atkore International Group Inc. (ATKR) are climbing more than 12% Tuesday morning on better-than-expected first-quarter results. The company also raised its full-year outlook.

Net income in the first quarter increased to $85.07 million or $1.75 per share compared with $34.79 million or $0.71 per share in the same quarter a year ago.

On an adjusted basis, EPS was $1.88 per share, that beat the average estimate of analysts polled by Thomson Reuters at $1.2 per share.

Net sales for the quarter were up 14.2% year-over-year at $511.1 million. The consensus estimate was for $456.79 million.

Looking forward to the full year, Atkore expects revenue to increase between 16% and 20% and EPS to be in the range of $5.65 - $5.95. Analysts see earnings of $4.19 per share on revenue growth of 5.6% for the period.

ATKR hit a new 52-week high of $53.58 this morning and currently trading at $52.