Atkore International Group Inc (NASDAQ:ATKR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Atkore International Group Inc. manufactures and distributes electrical raceway products. It offers steel tubes and pipes, electrical conduit, armored wire and cable, cable trays, metal framing systems and building components. Atkore International Group Inc. is based in Harvey, Illinois. “

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada restated a “buy” rating and set a $20.00 price target on shares of Atkore International Group in a research note on Wednesday, August 9th. 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. Credit Suisse Group upgraded Atkore International Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday, August 9th. BidaskClub upgraded Atkore International Group from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Finally, TheStreet lowered Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.67.

Shares of Atkore International Group (ATKR) traded down 0.81% during trading on Tuesday, reaching $19.63. The company had a trading volume of 406,280 shares. The firm has a market capitalization of $1.26 billion and a price-to-earnings ratio of 16.20. The firm has a 50-day moving average of $18.91 and a 200 day moving average of $18.91. Atkore International Group has a 52 week low of $17.43 and a 52 week high of $27.30.

Atkore International Group (NASDAQ:ATKR) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $397.70 million during the quarter, compared to analyst estimates of $424.49 million. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. Atkore International Group’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Atkore International Group will post $1.43 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of ATKR. Bank of New York Mellon Corp boosted its position in shares of Atkore International Group by 637.9% in the first quarter. Bank of New York Mellon Corp now owns 582,817 shares of the company’s stock worth $15,318,000 after buying an additional 503,831 shares during the period. Swiss National Bank boosted its position in shares of Atkore International Group by 42.1% in the first quarter. Swiss National Bank now owns 52,000 shares of the company’s stock worth $1,367,000 after buying an additional 15,400 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Atkore International Group in the first quarter worth about $5,131,000. Parametric Portfolio Associates LLC boosted its position in shares of Atkore International Group by 5.5% in the first quarter. Parametric Portfolio Associates LLC now owns 20,114 shares of the company’s stock worth $529,000 after buying an additional 1,049 shares during the period. Finally, Oxford Asset Management purchased a new stake in shares of Atkore International Group in the first quarter worth about $578,000.

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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