Atkore International Group Inc (ATKR) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Atkore International Group Inc (NASDAQ:ATKR) from a strong sell rating to a hold rating in a research note published on Tuesday.
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. “
Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 target price on shares of Atkore International Group in a report on Wednesday, August 9th. Citigroup Inc. reaffirmed a buy rating and issued a $22.00 target price (down from $28.00) on shares of Atkore International Group in a report on Thursday, August 10th. Credit Suisse Group raised Atkore International Group from a neutral rating to an outperform rating and set a $22.00 target price on the stock in a report on Wednesday, August 9th. BidaskClub raised Atkore International Group from a sell rating to a hold rating in a report on Friday, September 8th. Finally, TheStreet cut Atkore International Group from a c- rating to a d+ rating in a report on Wednesday, August 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $22.25.
Shares of Atkore International Group (ATKR) opened at 19.29 on Tuesday. Atkore International Group has a 1-year low of $17.43 and a 1-year high of $27.30. The company has a market capitalization of $1.24 billion and a price-to-earnings ratio of 15.92. The company’s 50 day moving average price is $18.97 and its 200-day moving average price is $18.97.
Atkore International Group (NASDAQ:ATKR) last announced its earnings results on Tuesday, August 8th. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The company had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $424.49 million. Atkore International Group’s quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that Atkore International Group will post $1.43 earnings per share for the current year.
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Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in Atkore International Group during the first quarter valued at about $132,000. Oppenheimer Asset Management Inc. bought a new stake in Atkore International Group during the first quarter valued at about $139,000. American International Group Inc. bought a new stake in Atkore International Group during the first quarter valued at about $194,000. Legal & General Group Plc raised its holdings in Atkore International Group by 300.6% during the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock valued at $183,000 after acquiring an additional 6,108 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Atkore International Group during the first quarter valued at about $218,000.
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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