Atkore International Group (ATKR) Price Target Lowered to $27.00 at Citigroup

Atkore International Group (NYSE:ATKR) had its price target cut by research analysts at Citigroup from $28.00 to $27.00 in a report released on Monday, April 9th. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 41.14% from the company’s previous close.

ATKR has been the topic of several other reports. UBS assumed coverage on Atkore International Group in a research note on Tuesday, January 23rd. They set a “hold” rating and a $23.00 target price on the stock. Zacks Investment Research raised Atkore International Group from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a report on Thursday, February 8th. Finally, TheStreet raised Atkore International Group from a “d+” rating to a “c” rating in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.80.

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ATKR opened at $19.13 on Monday. The stock has a market capitalization of $1,211.71, a PE ratio of 13.51, a PEG ratio of 1.06 and a beta of 1.62. Atkore International Group has a 12-month low of $15.05 and a 12-month high of $26.80. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 1.39.



Atkore International Group (NYSE:ATKR) last issued its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. Atkore International Group had a return on equity of 26.99% and a net margin of 5.97%. The company had revenue of $414.60 million during the quarter, compared to analysts’ expectations of $382.89 million. During the same period in the prior year, the business posted $0.28 EPS. Atkore International Group’s quarterly revenue was up 22.8% compared to the same quarter last year. equities research analysts expect that Atkore International Group will post 1.8 EPS for the current year.

In other news, VP James A. Mallak sold 87,700 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $21.43, for a total transaction of $1,879,411.00. Following the sale, the vice president now directly owns 165,323 shares of the company’s stock, valued at $3,542,871.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Patrick Williamson sold 3,760 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $21.00, for a total transaction of $78,960.00. Following the completion of the sale, the insider now directly owns 196,872 shares in the company, valued at $4,134,312. The disclosure for this sale can be found here. Insiders have sold 23,109,924 shares of company stock valued at $500,173,870 in the last ninety days. Insiders own 68.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Stoneridge Investment Partners LLC raised its position in shares of Atkore International Group by 16.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 22,296 shares of the company’s stock worth $478,000 after purchasing an additional 3,174 shares during the last quarter. Cortina Asset Management LLC raised its position in shares of Atkore International Group by 1.6% during the 4th quarter. Cortina Asset Management LLC now owns 241,988 shares of the company’s stock worth $5,191,000 after purchasing an additional 3,909 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Atkore International Group by 31.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,041 shares of the company’s stock worth $387,000 after purchasing an additional 4,290 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Atkore International Group by 6.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 93,010 shares of the company’s stock worth $1,815,000 after purchasing an additional 5,997 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Atkore International Group in the 4th quarter valued at about $130,000. 99.26% of the stock is currently owned by institutional investors.

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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.

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