Atkore International Group Inc (NASDAQ:ATKR) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently weighed in on ATKR. Royal Bank Of Canada reaffirmed 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 reaffirmed a “buy” rating and set a $22.00 price target (down previously from $28.00) on shares of Atkore International Group in a research note on Thursday, August 10th. Credit Suisse Group raised shares of 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. Zacks Investment Research downgraded shares of Atkore International Group from a “hold” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, UBS Group AG (USA) downgraded shares of Atkore International Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $21.00 in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.25.

Shares of Atkore International Group (NASDAQ:ATKR) traded down $0.16 during midday trading on Friday, reaching $19.04. 540,408 shares of the company’s stock traded hands, compared to its average volume of 362,551. Atkore International Group has a twelve month low of $15.05 and a twelve month high of $27.30.

Atkore International Group (NASDAQ:ATKR) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Atkore International Group had a net margin of 6.91% and a return on equity of 33.89%. The firm had revenue of $397.70 million during the quarter, compared to the consensus estimate of $424.49 million. The company’s quarterly revenue was up .5% compared to the same quarter last year.

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In related news, CFO James A. Mallak sold 21,867 shares of Atkore International Group stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.00, for a total transaction of $437,340.00. Following the transaction, the chief financial officer now directly owns 93,855 shares of the company’s stock, valued at $1,877,100. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Patrick Williamson sold 13,536 shares of Atkore International Group stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.00, for a total transaction of $270,720.00. Following the transaction, the chief executive officer now directly owns 179,091 shares in the company, valued at $3,581,820. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,367 shares of company stock worth $3,387,340.

A number of hedge funds have recently modified their holdings of ATKR. Victory Capital Management Inc. increased its holdings in Atkore International Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,898 shares of the company’s stock valued at $133,000 after buying an additional 885 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Atkore International Group during the first quarter valued at approximately $139,000. Legal & General Group Plc increased its holdings in Atkore International Group by 300.6% during the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock valued at $183,000 after buying an additional 6,108 shares during the period. American International Group Inc. purchased a new position in Atkore International Group during the first quarter valued at approximately $194,000. Finally, Koch Industries Inc. purchased a new position in Atkore International Group during the second quarter valued at approximately $205,000.

Atkore International Group Company Profile

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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