Analysts Set Atkore International Group (ATKR) PT at $23.75

Atkore International Group (NYSE:ATKR) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $23.75.

ATKR has been the topic of several research reports. UBS initiated coverage on shares of Atkore International Group in a research report on Tuesday, January 23rd. They set a “hold” rating and a $23.00 price target on the stock. Citigroup upped their price target on shares of Atkore International Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Thursday, February 8th. Finally, TheStreet upgraded shares of Atkore International Group from a “d+” rating to a “c” rating in a research report on Wednesday, February 14th.

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In related news, major shareholder Allied Holdings L.P. Cd&R sold 5,792,925 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $21.27, for a total transaction of $123,215,514.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Patrick Williamson sold 3,760 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $21.00, for a total value of $78,960.00. Following the sale, the insider now directly owns 196,872 shares of the company’s stock, valued at $4,134,312. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,109,924 shares of company stock valued at $500,173,870. 51.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ATKR. Millennium Management LLC increased its stake in Atkore International Group by 202.6% during the 4th quarter. Millennium Management LLC now owns 760,532 shares of the company’s stock worth $16,313,000 after purchasing an additional 509,199 shares in the last quarter. Victory Capital Management Inc. increased its stake in Atkore International Group by 7,746.4% during the 4th quarter. Victory Capital Management Inc. now owns 513,393 shares of the company’s stock worth $11,013,000 after purchasing an additional 506,850 shares in the last quarter. Lazard Asset Management LLC boosted its position in Atkore International Group by 14.2% during the 4th quarter. Lazard Asset Management LLC now owns 2,514,573 shares of the company’s stock worth $53,937,000 after acquiring an additional 312,693 shares during the last quarter. Sutton Square Management L.P. acquired a new position in Atkore International Group during the 4th quarter worth approximately $6,426,000. Finally, Two Sigma Investments LP boosted its position in Atkore International Group by 885.1% during the 4th quarter. Two Sigma Investments LP now owns 237,613 shares of the company’s stock worth $5,097,000 after acquiring an additional 213,493 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ATKR opened at $18.82 on Friday. The stock has a market cap of $1,213.62, a P/E ratio of 13.53, a P/E/G ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.39 and a current ratio of 2.45. Atkore International Group has a 12-month low of $15.05 and a 12-month high of $26.80.

Atkore International Group (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The business had revenue of $414.60 million for the quarter, compared to the consensus estimate of $382.89 million. Atkore International Group had a net margin of 5.97% and a return on equity of 26.99%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. sell-side analysts forecast that Atkore International Group will post 1.8 earnings per share for the current fiscal year.

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About Atkore International Group

Atkore International Group Inc manufactures and distributes electrical raceway products in the United States and internationally. The company's electrical raceway products include electrical conduits and fittings, armored cable and fittings, cable trays and mounting systems, and fittings for the non-residential construction, renovation markets, and mechanical products and solutions (MP&S) for the construction, and industrial markets.

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