Atkore International Group Inc (ATKR) Receives Consensus Rating of “Buy” from Brokerages
Shares of Atkore International Group Inc (NYSE:ATKR) have received an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $23.00.
Several research firms recently commented on ATKR. Royal Bank of Canada reaffirmed a “buy” rating and issued a $23.00 price target on shares of Atkore International Group in a report on Friday, October 13th. Zacks Investment Research raised Atkore International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. Citigroup set a $26.00 price target on Atkore International Group and gave the company a “buy” rating in a report on Thursday, November 30th. TheStreet raised Atkore International Group from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th. Finally, BidaskClub cut Atkore International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th.
Atkore International Group (NYSE ATKR) opened at $21.56 on Thursday. Atkore International Group has a fifty-two week low of $15.05 and a fifty-two week high of $27.30. The company has a market capitalization of $1,370.00 and a P/E ratio of 16.98. The company has a current ratio of 2.39, a quick ratio of 1.44 and a debt-to-equity ratio of 1.58.
Atkore International Group (NYSE:ATKR) last announced its earnings results on Wednesday, November 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Atkore International Group had a return on equity of 23.76% and a net margin of 5.27%. The business had revenue of $395.80 million during the quarter, compared to analysts’ expectations of $394.49 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. equities research analysts expect that Atkore International Group will post 1.47 EPS for the current fiscal year.
In related news, insider John Patrick Williamson sold 56,007 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $20.00, for a total value of $1,120,140.00. Following the completion of the transaction, the insider now directly owns 179,091 shares in the company, valued at $3,581,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin P. Fitzpatrick sold 154,806 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $22.13, for a total value of $3,425,856.78. Following the completion of the transaction, the vice president now owns 58,223 shares of the company’s stock, valued at $1,288,474.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,650 shares of company stock valued at $10,418,317. Insiders own 51.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in Atkore International Group by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,898 shares of the company’s stock worth $133,000 after acquiring an additional 885 shares during the period. Legal & General Group Plc grew its position in Atkore International Group by 300.6% in the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock worth $183,000 after acquiring an additional 6,108 shares during the period. Koch Industries Inc. purchased a new position in Atkore International Group in the second quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd purchased a new position in Atkore International Group in the third quarter worth approximately $237,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Atkore International Group in the third quarter worth approximately $314,000. Institutional investors own 98.33% of the company’s stock.
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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