Atkore International Group (ATKR) Shares Gap Down to $20.55
Atkore International Group Inc (NYSE:ATKR) shares gapped down prior to trading on Friday . The stock had previously closed at $20.10, but opened at $20.55. Atkore International Group shares last traded at $20.88, with a volume of 697072 shares traded.
A number of brokerages recently commented on ATKR. Citigroup raised their price target on Atkore International Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. UBS Group began coverage on Atkore International Group in a research report on Tuesday, January 23rd. They issued a “hold” rating and a $23.00 price target on the stock. Zacks Investment Research upgraded Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a research report on Thursday, February 8th. TheStreet upgraded Atkore International Group from a “d+” rating to a “c-” rating in a research report on Wednesday, November 29th. Finally, BidaskClub upgraded Atkore International Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $24.00.
The company has a current ratio of 2.45, a quick ratio of 1.39 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1,325.57, a PE ratio of 14.78, a PEG ratio of 1.16 and a beta of 1.25.
In other Atkore International Group news, VP Kevin P. Fitzpatrick sold 154,806 shares of Atkore International Group stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.13, for a total value of $3,425,856.78. Following the transaction, the vice president now owns 58,223 shares in the company, valued at $1,288,474.99. The transaction was disclosed in a document filed with the SEC, which is accessible 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 dated Friday, February 2nd. The shares were sold at an average price of $21.77, for a total value of $374,999,984.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,557,923 shares of company stock worth $382,032,981. Company insiders own 68.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Atkore International Group in the fourth quarter valued at about $130,000. Sei Investments Co. bought a new stake in shares of Atkore International Group during the third quarter worth about $1,164,000. Teacher Retirement System of Texas bought a new stake in shares of Atkore International Group during the fourth quarter worth about $237,000. Koch Industries Inc. bought a new stake in shares of Atkore International Group during the fourth quarter worth about $259,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Atkore International Group during the third quarter worth about $237,000. Hedge funds and other institutional investors own 96.59% of the company’s stock.
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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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