Atkore International Group Inc (ATKR) Given Consensus Rating of “Buy” by Brokerages

Atkore International Group Inc (NYSE:ATKR) has been assigned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.25.

Several equities analysts have recently issued reports on ATKR shares. Zacks Investment Research upgraded Atkore International Group from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 10th. Royal Bank of Canada lifted their price target on Atkore International Group to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. UBS Group lifted their price target on Atkore International Group from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Finally, Citigroup lowered Atkore International Group from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research note on Friday, September 7th.

In related news, insider John Patrick Williamson sold 100,000 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $23.00, for a total transaction of $2,300,000.00. Following the sale, the insider now owns 327,548 shares of the company’s stock, valued at approximately $7,533,604. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael J. Schulte sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $22.75, for a total value of $341,250.00. Following the sale, the vice president now directly owns 140,383 shares in the company, valued at approximately $3,193,713.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 640,038 shares of company stock worth $15,856,074. Corporate insiders own 51.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATKR. Swiss National Bank boosted its holdings in shares of Atkore International Group by 32.1% during the 1st quarter. Swiss National Bank now owns 68,700 shares of the company’s stock valued at $1,364,000 after acquiring an additional 16,700 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Atkore International Group by 60.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 486,283 shares of the company’s stock valued at $9,653,000 after acquiring an additional 182,614 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Atkore International Group by 2.8% during the 1st quarter. Northern Trust Corp now owns 377,328 shares of the company’s stock valued at $7,490,000 after acquiring an additional 10,285 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Atkore International Group by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,920,151 shares of the company’s stock valued at $38,115,000 after acquiring an additional 49,601 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Atkore International Group by 994.8% during the 1st quarter. JPMorgan Chase & Co. now owns 210,219 shares of the company’s stock valued at $4,174,000 after acquiring an additional 191,017 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Atkore International Group stock opened at $23.74 on Friday. Atkore International Group has a one year low of $17.60 and a one year high of $28.67. The company has a debt-to-equity ratio of 12.18, a quick ratio of 1.57 and a current ratio of 2.39. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.25 and a beta of 2.29.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.29. Atkore International Group had a return on equity of 56.38% and a net margin of 7.12%. The firm had revenue of $498.01 million for the quarter, compared to analyst estimates of $444.77 million. Equities research analysts expect that Atkore International Group will post 2.13 earnings per share for the current fiscal year.

Atkore International Group Company Profile

Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.

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