Atkore International Group Inc (NYSE:ATKR) Receives Average Recommendation of “Hold” from Analysts

Atkore International Group Inc (NYSE:ATKR) has received an average rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.25.

ATKR has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Atkore International Group from a “c” rating to a “b-” rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded shares of Atkore International Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, March 20th.

In related news, insider Peter J. Lariviere sold 9,640 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $24.66, for a total value of $237,722.40. Following the completion of the sale, the insider now owns 122,082 shares in the company, valued at $3,010,542.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.03% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Atkore International Group by 42.5% in the fourth quarter. Rhumbline Advisers now owns 50,918 shares of the company’s stock worth $1,010,000 after purchasing an additional 15,196 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Atkore International Group by 7.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 38,590 shares of the company’s stock worth $766,000 after acquiring an additional 2,819 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Atkore International Group in the fourth quarter worth $35,000. California Public Employees Retirement System purchased a new stake in shares of Atkore International Group in the fourth quarter worth $217,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Atkore International Group in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

NYSE ATKR opened at $25.47 on Wednesday. The company has a debt-to-equity ratio of 5.58, a quick ratio of 1.66 and a current ratio of 2.53. Atkore International Group has a 52-week low of $17.47 and a 52-week high of $28.67. The business’s 50-day moving average is $24.74. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.27 and a beta of 1.82.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.18. Atkore International Group had a return on equity of 103.17% and a net margin of 6.51%. The firm had revenue of $469.30 million for the quarter, compared to analyst estimates of $478.77 million. During the same quarter last year, the company posted $0.63 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Atkore International Group will post 2.73 EPS for the current year.

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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