Atkore International Group Inc (ATKR) Downgraded to Neutral at UBS AG

Atkore International Group Inc (NASDAQ:ATKR) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday.

ATKR has been the topic of a number of other reports. Credit Suisse Group raised shares of Atkore International Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 9th. 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 Friday, September 15th. TheStreet downgraded shares of Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $22.00 price target (down from $28.00) on shares of Atkore International Group in a research note on Thursday, August 10th. Finally, BidaskClub raised shares of Atkore International Group from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.67.

Shares of Atkore International Group (NASDAQ ATKR) opened at 19.63 on Wednesday. The stock has a market cap of $1.26 billion and a P/E ratio of 16.20. The firm’s 50-day moving average price is $18.94 and its 200-day moving average price is $18.94. Atkore International Group has a 52-week low of $17.43 and a 52-week high of $27.30.

Atkore International Group (NASDAQ:ATKR) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. Atkore International Group had a net margin of 6.91% and a return on equity of 33.89%. The business had revenue of $397.70 million for the quarter, compared to the consensus estimate of $424.49 million. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Atkore International Group will post $1.43 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Atkore International Group in the first quarter worth $132,000. Oppenheimer Asset Management Inc. acquired a new position in Atkore International Group during the first quarter worth $139,000. Legal & General Group Plc increased its position in Atkore International Group by 300.6% during the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock worth $183,000 after buying an additional 6,108 shares during the last quarter. American International Group Inc. acquired a new position in Atkore International Group during the first quarter worth $194,000. Finally, Koch Industries Inc. acquired a new position in Atkore International Group during the second quarter worth $205,000.

About Atkore International Group

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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