Atkore International Group (ATKR) Given New $27.00 Price Target at Citigroup

Atkore International Group (NYSE:ATKR) had its price target raised by analysts at Citigroup to $27.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 29.68% from the company’s previous close.

Several other equities research analysts also recently commented on ATKR. BidaskClub downgraded Atkore International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. TheStreet raised Atkore International Group from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th. UBS Group started coverage on Atkore International Group in a report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research raised Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $23.80.

Shares of Atkore International Group (NYSE ATKR) opened at $20.82 on Thursday. The company has a quick ratio of 1.39, 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 $1,333.20, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25.

Atkore International Group (NYSE:ATKR) last released its earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $382.89 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. sell-side analysts anticipate that Atkore International Group will post 1.8 EPS for the current fiscal year.

In other news, 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 transaction of $3,425,856.78. Following the transaction, the vice president now directly owns 58,223 shares of the company’s stock, valued at $1,288,474.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Mallak sold 9,775 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $20.01, for a total value of $195,597.75. Following the transaction, the vice president now directly owns 81,563 shares in the company, valued at $1,632,075.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,332,632 shares of company stock worth $504,883,993. Corporate insiders own 68.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ATKR. UBS Asset Management Americas Inc. purchased a new stake in Atkore International Group during the second quarter valued at $372,000. Northern Trust Corp increased its position in Atkore International Group by 105.2% during the second quarter. Northern Trust Corp now owns 381,146 shares of the company’s stock valued at $8,594,000 after acquiring an additional 195,376 shares during the last quarter. Vanguard Group Inc. increased its position in Atkore International Group by 13.3% during the second quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock valued at $80,044,000 after acquiring an additional 417,268 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Atkore International Group during the second quarter valued at $319,000. Finally, State Street Corp increased its position in Atkore International Group by 163.2% during the second quarter. State Street Corp now owns 533,175 shares of the company’s stock valued at $12,022,000 after acquiring an additional 330,633 shares during the last quarter. Institutional investors own 96.61% of the company’s stock.

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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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