Atkore International Group (ATKR) Stock Rating Lowered by Zacks Investment Research

Atkore International Group (NYSE:ATKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report 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 assumed coverage on Atkore International Group in a report on Thursday, February 21st. They issued a “neutral” rating and a $25.00 price target for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Shares of NYSE ATKR traded up $0.09 on Monday, hitting $23.22. The company had a trading volume of 266,727 shares, compared to its average volume of 314,989. Atkore International Group has a 12-month low of $17.47 and a 12-month high of $28.67. 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 price-to-earnings ratio of 9.36 and a beta of 1.91.

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

In related news, insider Michael J. Schulte sold 57,291 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $24.22, for a total value of $1,387,588.02. Following the completion of the transaction, the insider now owns 188,202 shares of the company’s stock, valued at $4,558,252.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Calamos Advisors LLC acquired a new stake in Atkore International Group during the first quarter valued at approximately $560,000. Denali Advisors LLC acquired a new stake in Atkore International Group during the first quarter valued at approximately $82,000. First Hawaiian Bank raised 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 valued at $117,000 after buying an additional 1,584 shares in the last quarter. MUFG Securities EMEA plc raised its stake in Atkore International Group by 100.7% during the fourth quarter. MUFG Securities EMEA plc now owns 111,000 shares of the company’s stock valued at $2,202,000 after buying an additional 55,700 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Atkore International Group by 25.2% during the fourth quarter. American Century Companies Inc. now owns 310,250 shares of the company’s stock valued at $6,155,000 after buying an additional 62,417 shares in the last quarter. Hedge funds and other institutional investors own 98.31% 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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