Atkore International Group Inc (ATKR) Receives Consensus Rating of “Buy” from Brokerages

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Atkore International Group Inc (NYSE:ATKR) has been given an average rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.75.

A number of research firms recently weighed in on ATKR. Zacks Investment Research lowered shares of Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Citigroup lowered their price objective on shares of Atkore International Group from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, April 9th. Finally, TheStreet lowered shares of Atkore International Group from a “c” rating to a “d” rating in a research note on Thursday, May 24th.

Shares of ATKR traded down $0.03 during trading hours on Friday, reaching $22.28. 522,989 shares of the company traded hands, compared to its average volume of 793,076. Atkore International Group has a 12-month low of $15.05 and a 12-month high of $24.48. The firm has a market capitalization of $1.04 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.16 and a beta of 1.91. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 14.51.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.22. Atkore International Group had a net margin of 7.14% and a return on equity of 40.89%. The company had revenue of $445.00 million during the quarter, compared to analyst estimates of $415.21 million. During the same period in the prior year, the firm earned $0.35 earnings per share. analysts predict that Atkore International Group will post 1.92 earnings per share for the current year.

In other Atkore International Group news, insider John Patrick Williamson sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $22.57, for a total value of $2,257,000.00. Following the completion of the transaction, the insider now directly owns 296,385 shares in the company, valued at $6,689,409.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Allied Holdings L.P. Cd&R sold 6,959,976 shares of the business’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $19.91, for a total transaction of $138,573,122.16. The disclosure for this sale can be found here. Insiders sold 7,351,405 shares of company stock valued at $147,112,321 over the last quarter. 68.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new position in Atkore International Group in the first quarter worth about $1,569,000. Dalton Greiner Hartman Maher & Co. raised its holdings in Atkore International Group by 8.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 745,676 shares of the company’s stock worth $14,802,000 after purchasing an additional 58,005 shares in the last quarter. Atlantic Trust Group LLC raised its holdings in Atkore International Group by 14,400.0% in the first quarter. Atlantic Trust Group LLC now owns 5,075 shares of the company’s stock worth $101,000 after purchasing an additional 5,040 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Atkore International Group in the first quarter worth about $979,000. Finally, Highbridge Capital Management LLC raised its holdings in Atkore International Group by 267.6% in the first quarter. Highbridge Capital Management LLC now owns 126,664 shares of the company’s stock worth $2,514,000 after purchasing an additional 92,205 shares in the last quarter. Institutional investors and hedge funds own 97.90% of the company’s stock.

Atkore International Group Company Profile

Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.

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