Atkore International Group Inc (ATKR) Receives $22.17 Average Price Target from Analysts

Atkore International Group Inc (NASDAQ:ATKR) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.17.

ATKR has been the topic of several research analyst reports. Zacks Investment Research downgraded Atkore International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price target on shares of Atkore International Group in a research report on Tuesday, April 11th.

In related news, VP James A. Mallak sold 12,146 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $26.01, for a total value of $315,917.46. Following the completion of the sale, the vice president now owns 84,134 shares in the company, valued at $2,188,325.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Peter J. Lariviere sold 37,261 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $25.85, for a total transaction of $963,196.85. Following the completion of the sale, the vice president now owns 45,737 shares of the company’s stock, valued at approximately $1,182,301.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,683 shares of company stock valued at $6,278,738.

Several large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in Atkore International Group by 34.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the company’s stock valued at $110,000 after buying an additional 1,065 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Atkore International Group during the first quarter valued at $132,000. Oppenheimer Asset Management Inc. bought a new stake in Atkore International Group during the first quarter valued at $139,000. American International Group Inc. bought a new stake in Atkore International Group during the first quarter valued at $194,000. Finally, Trexquant Investment LP bought a new stake in Atkore International Group during the first quarter valued at $218,000.

Atkore International Group (ATKR) traded up 0.55% on Monday, hitting $21.91. The company had a trading volume of 402,705 shares. The firm’s 50 day moving average price is $22.74 and its 200 day moving average price is $24.37. Atkore International Group has a 12-month low of $14.17 and a 12-month high of $27.30. The stock has a market cap of $1.39 billion and a P/E ratio of 19.42.

Atkore International Group (NASDAQ:ATKR) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The business had revenue of $372.79 million during the quarter, compared to analyst estimates of $363.74 million. Atkore International Group had a net margin of 5.08% and a return on equity of 25.87%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. Equities analysts predict that Atkore International Group will post $1.57 earnings per share for the current fiscal year.

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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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