Atkore International Group (NYSE:ATKR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday. The firm currently has a $24.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.15% from the stock’s previous close.
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. “
ATKR has been the topic of a number of other research reports. UBS Group cut shares of Atkore International Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $19.00 to $21.00 in a research report on Wednesday, October 11th. BidaskClub cut shares of Atkore International Group from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. TheStreet raised shares of Atkore International Group from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. Citigroup upped their price target on shares of Atkore International Group from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $23.00 price target on shares of Atkore International Group in a research report on Friday, October 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $24.00.
Atkore International Group (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. The business had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. research analysts forecast that Atkore International Group will post 1.8 EPS for the current fiscal year.
In other news, VP James A. Mallak sold 9,775 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $20.01, for a total transaction of $195,597.75. Following the transaction, the vice president now owns 81,563 shares of the company’s stock, valued at approximately $1,632,075.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin P. Fitzpatrick sold 154,806 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.13, for a total transaction of $3,425,856.78. Following the transaction, the vice president now directly owns 58,223 shares in the company, valued at approximately $1,288,474.99. The disclosure for this sale can be found here. Insiders have sold a total of 17,557,923 shares of company stock worth $382,032,981 in the last three months. Insiders own 68.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC boosted its position in shares of Atkore International Group by 16.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 22,296 shares of the company’s stock worth $478,000 after purchasing an additional 3,174 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Atkore International Group by 6.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 93,010 shares of the company’s stock valued at $1,815,000 after acquiring an additional 5,997 shares in the last quarter. SG Americas Securities LLC bought a new position in Atkore International Group in the 4th quarter valued at about $130,000. Legal & General Group Plc lifted its position in Atkore International Group by 300.6% in the 2nd quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock valued at $183,000 after acquiring an additional 6,108 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Atkore International Group in the 3rd quarter valued at about $1,164,000. 96.11% of the stock is currently owned by institutional investors.
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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