Atkore International Group Inc (ATKR) Given Consensus Recommendation of “Buy” by Brokerages

Atkore International Group Inc (NYSE:ATKR) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.80.

Several equities analysts have commented on ATKR shares. UBS started coverage on Atkore International Group in a research report on Tuesday, January 23rd. They issued 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. Citigroup increased their target price on Atkore International Group from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Thursday, February 8th.

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In other news, major shareholder Allied Holdings L.P. Cd&R sold 5,792,925 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $21.27, for a total value of $123,215,514.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Patrick Williamson sold 3,760 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $21.00, for a total value of $78,960.00. Following the completion of the sale, the insider now directly owns 196,872 shares of the company’s stock, valued at approximately $4,134,312. The disclosure for this sale can be found here. In the last three months, insiders sold 23,109,924 shares of company stock valued at $500,173,870. Insiders own 51.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new stake in shares of Atkore International Group in the fourth quarter valued at about $339,000. Crestline Management LP acquired a new stake in Atkore International Group during the fourth quarter worth approximately $1,500,000. Millennium Management LLC grew its stake in Atkore International Group by 202.6% during the fourth quarter. Millennium Management LLC now owns 760,532 shares of the company’s stock worth $16,313,000 after purchasing an additional 509,199 shares during the period. Cornerstone Capital Management Holdings LLC. grew its stake in Atkore International Group by 41.8% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 221,682 shares of the company’s stock worth $4,754,000 after purchasing an additional 65,400 shares during the period. Finally, Teachers Advisors LLC grew its stake in Atkore International Group by 3.3% during the fourth quarter. Teachers Advisors LLC now owns 558,624 shares of the company’s stock worth $11,982,000 after purchasing an additional 17,825 shares during the period. 99.26% of the stock is owned by institutional investors.

ATKR stock opened at $19.58 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. The company has a market capitalization of $1,234.61, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.08 and a beta of 1.42. Atkore International Group has a 1 year low of $15.05 and a 1 year high of $26.80.

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

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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.

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