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

Zacks Investment Research lowered shares of Atkore International Group (NYSE:ATKR) from a strong-buy rating to a hold rating in a research note published on Tuesday morning.

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. “

Other analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Atkore International Group to $29.00 and gave the company an outperform rating in a report on Wednesday, August 8th. Citigroup downgraded shares of Atkore International Group from a buy rating to a neutral rating and set a $30.00 price objective for the company. in a report on Friday, September 7th. Finally, UBS Group upped their price target on shares of Atkore International Group from $27.00 to $29.00 and gave the stock a neutral rating in a report on Thursday, August 30th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $29.25.

NYSE ATKR opened at $18.41 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.39 and a debt-to-equity ratio of 12.18. The stock has a market capitalization of $847.54 million, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.74 and a beta of 2.78. Atkore International Group has a 12-month low of $17.47 and a 12-month high of $28.67.

In other news, insider John Patrick Williamson sold 22,678 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $27.00, for a total transaction of $612,306.00. Following the completion of the sale, the insider now owns 251,063 shares of the company’s stock, valued at approximately $6,778,701. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 68.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Atkore International Group during the 3rd quarter worth approximately $103,000. Tower Research Capital LLC TRC lifted its holdings in shares of Atkore International Group by 637.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,739 shares of the company’s stock worth $126,000 after acquiring an additional 4,096 shares during the period. Ibex Investors LLC acquired a new position in Atkore International Group during the 3rd quarter worth approximately $205,000. Massachusetts Financial Services Co. MA acquired a new position in Atkore International Group during the 3rd quarter worth approximately $230,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Atkore International Group during the 3rd quarter worth approximately $241,000. 95.74% of the stock is owned by institutional investors.

Atkore International Group Company Profile

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.

Read More: Reverse Stock Split

Get a free copy of the Zacks research report on Atkore International Group (ATKR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atkore International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore International Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply