Atkore International Group (ATKR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Atkore International Group (NYSE:ATKR) from a buy rating to a hold rating in a research note released on Monday, Zacks.com reports.

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. “

Separately, Credit Suisse Group started coverage on Atkore International Group in a research note on Thursday, February 21st. They issued a neutral rating and a $25.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $27.00.



Shares of ATKR stock opened at $23.22 on Monday. The company has a debt-to-equity ratio of 7.07, a current ratio of 2.18 and a quick ratio of 1.39. The company has a market capitalization of $1.06 billion, a P/E ratio of 9.36 and a beta of 1.91. Atkore International Group has a 1 year low of $17.47 and a 1 year high of $28.67.

Atkore International Group (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. The business had revenue of $452.03 million during the quarter, compared to analysts’ expectations of $449.53 million. Atkore International Group had a return on equity of 142.82% and a net margin of 7.28%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, analysts predict that Atkore International Group will post 2.71 earnings per share for the current year.

In other Atkore International Group news, insider Michael J. Schulte sold 57,291 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $24.22, for a total transaction of $1,387,588.02. Following the completion of the sale, the insider now directly owns 188,202 shares in the company, valued at $4,558,252.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.03% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Atkore International Group by 0.7% during the fourth quarter. SG Americas Securities LLC now owns 132,837 shares of the company’s stock worth $2,635,000 after purchasing an additional 894 shares during the last quarter. Legal & General Group Plc lifted its stake in Atkore International Group by 17.4% during the fourth quarter. Legal & General Group Plc now owns 7,346 shares of the company’s stock worth $145,000 after purchasing an additional 1,087 shares during the last quarter. First Hawaiian Bank lifted its stake in Atkore International Group by 40.9% during the first quarter. First Hawaiian Bank now owns 5,453 shares of the company’s stock worth $117,000 after purchasing an additional 1,584 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in Atkore International Group by 0.9% during the fourth quarter. Brandywine Global Investment Management LLC now owns 191,824 shares of the company’s stock worth $3,806,000 after purchasing an additional 1,636 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in Atkore International Group by 5.7% during the fourth quarter. United Services Automobile Association now owns 32,012 shares of the company’s stock worth $635,000 after purchasing an additional 1,715 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Atkore International Group Company Profile

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

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