Royal Bank Of Canada Reiterates “Buy” Rating for Atkore International Group Inc (ATKR)
Atkore International Group Inc (NASDAQ:ATKR)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They presently have a $20.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 8.28% from the company’s current price.
A number of other research firms have also recently commented on ATKR. Zacks Investment Research cut Atkore International Group from a “hold” rating to a “strong sell” rating in a research note on Friday, August 11th. BidaskClub upgraded Atkore International Group from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Citigroup Inc. restated a “buy” rating and set a $22.00 price target (down from $28.00) on shares of Atkore International Group in a research note on Thursday, August 10th. TheStreet cut Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. Finally, Credit Suisse Group upgraded Atkore International Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Atkore International Group presently has a consensus rating of “Hold” and a consensus price target of $23.75.
Atkore International Group (NASDAQ ATKR) traded up 0.76% on Friday, reaching $18.47. The company’s stock had a trading volume of 503,244 shares. Atkore International Group has a 52 week low of $17.74 and a 52 week high of $27.30. The company has a 50 day moving average of $18.26 and a 200 day moving average of $22.74. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of 15.24.
Atkore International Group (NASDAQ:ATKR) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The company had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $424.49 million. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts forecast that Atkore International Group will post $1.43 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Atkore International Group in the third quarter valued at $1,615,000. Federated Investors Inc. PA raised its stake in shares of Atkore International Group by 9.5% in the second quarter. Federated Investors Inc. PA now owns 191,824 shares of the company’s stock valued at $4,326,000 after acquiring an additional 16,616 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Atkore International Group in the second quarter valued at $7,200,000. JPMorgan Chase & Co. acquired a new stake in shares of Atkore International Group in the first quarter valued at $256,000. Finally, Foresters Investment Management Company Inc. acquired a new stake in shares of Atkore International Group in the first quarter valued at $11,755,000.
About Atkore International Group
Atkore International Group Inc is a manufacturer of electrical raceway products. The Company’s products are primarily offered for non-residential construction and renovation markets, and mechanical products and solutions (MP&S) for the construction and industrial markets. The Company operates in two segments: Electrical Raceway and MP&S.
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