Atkore International Group Inc (NYSE:ATKR) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 491,622 shares, a decrease of 38.6% from the May 15th total of 800,064 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,417,818 shares, the short-interest ratio is presently 0.3 days.
Several research analysts recently commented on ATKR shares. Citigroup cut their price target on Atkore International Group from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, April 9th. TheStreet cut Atkore International Group from a “c” rating to a “d” rating in a research note on Thursday, May 24th. Finally, Zacks Investment Research cut Atkore International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.60.
In related news, insider John Patrick Williamson sold 118,988 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $21.01, for a total value of $2,499,937.88. Following the transaction, the insider now owns 237,107 shares in the company, valued at $4,981,618.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James A. Mallak sold 2,000 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $22.00, for a total value of $44,000.00. Following the completion of the transaction, the vice president now owns 75,623 shares in the company, valued at approximately $1,663,706. The disclosure for this sale can be found here. Insiders sold 7,351,405 shares of company stock valued at $147,112,321 in the last ninety days. Company insiders own 51.00% of the company’s stock.
Atkore International Group opened at $22.15 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 14.51, a quick ratio of 1.62 and a current ratio of 2.55. Atkore International Group has a one year low of $15.05 and a one year high of $24.48. The stock has a market capitalization of $1.04 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.16 and a beta of 1.91.
Atkore International Group (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.22. Atkore International Group had a return on equity of 40.89% and a net margin of 7.14%. The firm had revenue of $445.00 million for the quarter, compared to analysts’ expectations of $415.21 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. equities research analysts predict that Atkore International Group will post 1.92 earnings per share for the current year.
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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