Zacks Investment Research cut shares of Atkore International Group (NYSE:ATKR) from a buy rating to a hold rating in a research 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 analysts have also issued reports about the company. Citigroup decreased their price objective on Atkore International Group from $28.00 to $27.00 and set a buy rating for the company in a research report on Monday, April 9th. TheStreet upgraded Atkore International Group from a d+ rating to a c rating in a research report on Wednesday, February 14th. Finally, UBS assumed coverage on Atkore International Group in a research report on Tuesday, January 23rd. They set a hold rating and a $23.00 price target for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Atkore International Group has a consensus rating of Buy and a consensus target price of $23.80.
Shares of ATKR opened at $18.58 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 1.39. Atkore International Group has a 52-week low of $15.05 and a 52-week high of $26.80. The company has a market capitalization of $1,163.37, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62.
Atkore International Group (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Atkore International Group had a return on equity of 26.99% and a net margin of 5.97%. The business had revenue of $414.60 million during the quarter, compared to analyst estimates of $382.89 million. During the same period in the previous year, the firm earned $0.28 EPS. Atkore International Group’s quarterly revenue was up 22.8% compared to the same quarter last year. equities analysts forecast that Atkore International Group will post 1.8 EPS for the current year.
In other Atkore International Group news, insider John Patrick Williamson sold 3,760 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $21.00, for a total transaction of $78,960.00. Following the completion of the transaction, the insider now owns 196,872 shares of the company’s stock, valued at approximately $4,134,312. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James A. Mallak sold 87,700 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $21.43, for a total value of $1,879,411.00. Following the completion of the sale, the vice president now directly owns 165,323 shares of the company’s stock, valued at approximately $3,542,871.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,109,924 shares of company stock valued at $500,173,870. Insiders own 68.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $130,000. Teacher Retirement System of Texas acquired a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $237,000. Koch Industries Inc. acquired a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $259,000. Bailard Inc. acquired a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $324,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Atkore International Group in the 4th quarter valued at approximately $339,000. 99.26% of the stock is owned by institutional investors.
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About Atkore International Group
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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