Zacks Investment Research upgraded shares of Atkore International Group (NYSE:ATKR) from a sell rating to a hold rating in a research report released on Thursday morning.

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 analysts also recently issued reports about the company. Citigroup set a $26.00 target price on Atkore International Group and gave the company a buy rating in a research report on Thursday, November 30th. Royal Bank of Canada reiterated a buy rating and set a $23.00 target price on shares of Atkore International Group in a research report on Friday, October 13th. UBS Group assumed coverage on Atkore International Group in a research report on Tuesday, January 23rd. They set a hold rating and a $23.00 target price for the company. TheStreet upgraded Atkore International Group from a d+ rating to a c- rating in a research report on Wednesday, November 29th. Finally, BidaskClub downgraded Atkore International Group from a buy rating to a hold rating in a research report on Saturday, November 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $24.00.

Atkore International Group (NYSE:ATKR) opened at $20.85 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.45 and a debt-to-equity ratio of 1.36. Atkore International Group has a 1-year low of $15.05 and a 1-year high of $27.06. The company has a market capitalization of $1,364.37, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

Atkore International Group (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $414.60 million for the quarter, compared to analyst estimates of $382.89 million. During the same period in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. equities research analysts predict that Atkore International Group will post 1.47 earnings per share for the current year.

In related news, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $21.77, for a total transaction of $374,999,984.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin P. Fitzpatrick sold 154,806 shares of the company’s stock in a transaction 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 sale, 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. Over the last quarter, insiders have sold 17,557,923 shares of company stock valued at $382,032,981. Corporate insiders own 68.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in ATKR. Schwab Charles Investment Management Inc. lifted its position in shares of Atkore International Group by 36.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 189,549 shares of the company’s stock worth $4,275,000 after buying an additional 50,720 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Atkore International Group by 300.6% during the 2nd quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock worth $183,000 after buying an additional 6,108 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Atkore International Group by 29.0% during the 2nd quarter. Teachers Advisors LLC now owns 181,571 shares of the company’s stock worth $4,094,000 after buying an additional 40,780 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Atkore International Group by 17.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 310,523 shares of the company’s stock worth $7,002,000 after buying an additional 45,097 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Atkore International Group by 57.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 307,773 shares of the company’s stock worth $6,942,000 after buying an additional 112,523 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Zacks Investment Research Upgrades Atkore International Group (ATKR) to Hold” was first reported by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.dailypolitical.com/2018/02/09/zacks-investment-research-upgrades-atkore-international-group-atkr-to-hold.html.

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.

Get a free copy of the Zacks research report on Atkore International Group (ATKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atkore International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore International Group and related companies with MarketBeat.com's FREE daily email newsletter.