Atkore International Group (NYSE:ATKR) Upgraded at Zacks Investment Research
Atkore International Group (NYSE:ATKR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The brokerage presently has a $29.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 12.53% from the stock’s current price.
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, TheStreet cut ZovioInc . from a “c-” rating to a “d” rating in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Atkore International Group currently has a consensus rating of “Hold” and an average target price of $27.60.
Atkore International Group (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.18. The firm had revenue of $469.30 million during the quarter, compared to analysts’ expectations of $478.77 million. Atkore International Group had a return on equity of 103.17% and a net margin of 6.51%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. Sell-side analysts predict that Atkore International Group will post 2.73 EPS for the current year.
In other news, insider Peter J. Lariviere sold 9,640 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $24.66, for a total transaction of $237,722.40. Following the completion of the transaction, the insider now directly owns 122,082 shares in the company, valued at approximately $3,010,542.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.03% of the company’s stock.
Several institutional investors have recently bought and sold shares of ATKR. Wells Fargo & Company MN grew its position in shares of Atkore International Group by 11.6% during the 1st quarter. Wells Fargo & Company MN now owns 2,685,237 shares of the company’s stock worth $57,813,000 after buying an additional 279,596 shares during the period. Bank of America Corp DE grew its position in shares of Atkore International Group by 111.1% during the 4th quarter. Bank of America Corp DE now owns 408,001 shares of the company’s stock worth $8,095,000 after buying an additional 214,742 shares during the period. Norges Bank acquired a new position in shares of Atkore International Group during the 4th quarter worth about $2,074,000. Kennedy Capital Management Inc. acquired a new position in shares of Atkore International Group during the 1st quarter worth about $2,153,000. Finally, Phocas Financial Corp. grew its position in shares of Atkore International Group by 30.6% during the 4th quarter. Phocas Financial Corp. now owns 403,060 shares of the company’s stock worth $7,997,000 after buying an additional 94,549 shares during the period. Institutional investors own 97.44% of the company’s stock.
About Atkore International Group
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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