Atkore International Group (ATKR) Upgraded at TheStreet

TheStreet upgraded shares of Atkore International Group (NYSE:ATKR) from a d+ rating to a c rating in a research report report published on Wednesday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research raised shares of Atkore International Group from a sell rating to a hold rating and set a $24.00 price target for the company in a report on Thursday, February 8th. Citigroup raised their price target on shares of Atkore International Group from $26.00 to $28.00 and gave the company a buy rating in a report on Wednesday, January 24th. UBS Group began coverage on shares of Atkore International Group in a report on Tuesday, January 23rd. They issued a hold rating and a $23.00 price target for the company. Finally, BidaskClub lowered shares of Atkore International Group from a buy rating to a hold rating in a report on Saturday, November 4th. Three research 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 $20.84 on Wednesday. Atkore International Group has a one year low of $15.05 and a one year high of $27.06. The company has a quick ratio of 1.39, a current ratio of 2.45 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1,389.81, a P/E ratio of 14.78, a PEG ratio of 1.21 and a beta of 1.25.

Atkore International Group (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The business had revenue of $414.60 million during the quarter, compared to analyst estimates of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. Atkore International Group’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. sell-side analysts forecast that Atkore International Group will post 1.8 EPS for the current fiscal year.

In other Atkore International Group news, VP Kevin P. Fitzpatrick sold 154,806 shares of Atkore International Group stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.13, for a total transaction of $3,425,856.78. Following the completion of the sale, the vice president now owns 58,223 shares of the company’s stock, valued at approximately $1,288,474.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Allied Holdings L.P. Cd&R sold 17,225,539 shares of Atkore International Group 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 disclosure for this sale can be found here. Insiders have sold a total of 17,557,923 shares of company stock valued at $382,032,981 in the last ninety days. Company insiders own 68.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC boosted its position in shares of Atkore International Group by 16.6% during the fourth 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. Cortina Asset Management LLC boosted its position in shares of Atkore International Group by 1.6% during the fourth quarter. Cortina Asset Management LLC now owns 241,988 shares of the company’s stock worth $5,191,000 after purchasing an additional 3,909 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Atkore International Group by 31.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,041 shares of the company’s stock worth $387,000 after purchasing an additional 4,290 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Atkore International Group by 6.9% during the third quarter. Public Employees Retirement System of Ohio now owns 93,010 shares of the company’s stock worth $1,815,000 after purchasing an additional 5,997 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Atkore International Group during the fourth quarter worth $130,000. 96.59% of the stock is owned by hedge funds and other institutional investors.

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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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