RBC Capital Markets reiterated their outperform rating on shares of Atkore International Group Inc (NASDAQ:ATKR) in a research report sent to investors on Wednesday. The brokerage currently has a $30.00 price objective on the stock, up from their previous price objective of $28.00.
A number of other research analysts have also issued reports on ATKR. Royal Bank Of Canada upped their price target on shares of Atkore International Group from $28.00 to $30.00 and gave the company an outperform rating in a research note on Wednesday, February 8th. Zacks Investment Research upgraded shares of Atkore International Group from a hold rating to a strong-buy rating and set a $31.00 price objective on the stock in a research note on Tuesday, January 31st. Finally, Credit Suisse Group increased their price objective on shares of Atkore International Group from $20.00 to $23.00 and gave the stock a neutral rating in a research note on Wednesday, November 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $24.13.
Atkore International Group (NASDAQ:ATKR) opened at 25.74 on Wednesday. Atkore International Group has a 1-year low of $14.17 and a 1-year high of $27.30. The company has a market cap of $1.62 billion and a PE ratio of 24.31. The company has a 50-day moving average price of $25.39 and a 200-day moving average price of $20.63.
Atkore International Group (NASDAQ:ATKR) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. The company had revenue of $337.60 million for the quarter, compared to analyst estimates of $353.65 million. During the same quarter in the previous year, the company posted $0.23 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts expect that Atkore International Group will post $1.64 EPS for the current fiscal year.
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In related news, major shareholder Allied Holdings L.P. Cd&R sold 1,200,000 shares of the stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $19.00, for a total transaction of $22,800,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge funds have recently made changes to their positions in the company. Cornercap Investment Counsel Inc. bought a new position in Atkore International Group during the fourth quarter valued at about $648,000. Acrospire Investment Management LLC bought a new position in Atkore International Group during the third quarter valued at about $114,000. Emerald Acquisition Ltd. increased its position in Atkore International Group by 6.8% in the third quarter. Emerald Acquisition Ltd. now owns 786,301 shares of the company’s stock valued at $14,736,000 after buying an additional 50,361 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Atkore International Group by 6,438.8% in the third quarter. Tower Research Capital LLC TRC now owns 39,233 shares of the company’s stock valued at $736,000 after buying an additional 38,633 shares during the last quarter. Finally, BlackRock Group LTD bought a new position in Atkore International Group during the third quarter valued at about $2,372,000.
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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