Citigroup Analysts Give Atkore International Group (ATKR) a $26.00 Price Target

Citigroup set a $26.00 price objective on Atkore International Group (NYSE:ATKR) in a research note released on Thursday. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on ATKR. Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 price target on shares of Atkore International Group in a research note on Wednesday, August 9th. Credit Suisse Group raised shares of Atkore International Group from a neutral rating to an outperform rating and set a $22.00 target price on the stock in a research report on Wednesday, August 9th. BidaskClub raised shares of Atkore International Group from a sell rating to a hold rating in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Atkore International Group from a hold rating to a strong sell rating in a research report on Friday, August 11th. Finally, TheStreet downgraded shares of Atkore International Group from a c- rating to a d+ rating in a research report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $23.00.

Atkore International Group (NYSE:ATKR) traded down $0.05 during midday trading on Thursday, hitting $21.23. 250,804 shares of the stock were exchanged, compared to its average volume of 303,406. Atkore International Group has a 1-year low of $15.05 and a 1-year high of $27.30. The company has a debt-to-equity ratio of 1.58, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $1,339.42, a P/E ratio of 16.85, a PEG ratio of 1.42 and a beta of 1.05.

Atkore International Group (NYSE:ATKR) last posted its quarterly earnings results on Wednesday, November 29th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Atkore International Group had a net margin of 5.63% and a return on equity of 26.22%. The business had revenue of $395.80 million for the quarter, compared to the consensus estimate of $394.49 million. During the same period in the prior year, the business posted $0.35 earnings per share. Atkore International Group’s revenue for the quarter was down 4.9% compared to the same quarter last year.

In other Atkore International Group news, VP Kevin P. Fitzpatrick sold 154,806 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.13, for a total transaction of $3,425,856.78. Following the transaction, the vice president now directly owns 58,223 shares of the company’s stock, valued at $1,288,474.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James A. Mallak sold 77,856 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $20.00, for a total transaction of $1,557,120.00. Following the transaction, the vice president now directly owns 93,855 shares in the company, valued at $1,877,100. The disclosure for this sale can be found here. Insiders have sold 431,751 shares of company stock worth $8,965,037 over the last three months. Company insiders own 68.80% of the company’s stock.

Several large investors have recently modified their holdings of ATKR. JPMorgan Chase & Co. acquired a new stake in shares of Atkore International Group in the first quarter valued at about $256,000. Teachers Advisors LLC lifted its stake in shares of Atkore International Group by 65.3% in the first quarter. Teachers Advisors LLC now owns 140,791 shares of the company’s stock valued at $3,700,000 after buying an additional 55,598 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Atkore International Group by 76.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 138,829 shares of the company’s stock valued at $3,649,000 after buying an additional 60,325 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Atkore International Group by 4.8% in the second quarter. Russell Investments Group Ltd. now owns 1,080,316 shares of the company’s stock valued at $24,357,000 after buying an additional 49,311 shares during the period. Finally, Investment Counselors of Maryland LLC lifted its stake in shares of Atkore International Group by 295.9% in the second quarter. Investment Counselors of Maryland LLC now owns 614,928 shares of the company’s stock valued at $13,867,000 after buying an additional 459,600 shares during the period. 96.99% of the stock is currently owned by institutional investors.

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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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