Investment analysts at UBS Group initiated coverage on shares of Atkore International Group (NYSE:ATKR) in a research note issued to investors on Tuesday, thefly.com reports. The brokerage set a “hold” rating and a $23.00 price target on the stock. UBS Group’s price target indicates a potential downside of 0.73% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. TheStreet raised shares of Atkore International Group from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th. Citigroup set a $26.00 price objective on shares of Atkore International Group and gave the stock a “buy” rating in a report on Thursday, November 30th. BidaskClub downgraded shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Atkore International Group in a report on Friday, October 13th. Finally, Zacks Investment Research raised shares of Atkore International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Atkore International Group presently has an average rating of “Buy” and an average target price of $23.50.

Atkore International Group (NYSE:ATKR) opened at $23.17 on Tuesday. The company has a market cap of $1,470.00 and a price-to-earnings ratio of 18.24. The company has a quick ratio of 1.44, a current ratio of 2.39 and a debt-to-equity ratio of 1.58. Atkore International Group has a 1-year low of $15.05 and a 1-year high of $27.30.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings data on Wednesday, November 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $395.80 million during the quarter, compared to the consensus estimate of $394.49 million. Atkore International Group had a net margin of 5.63% and a return on equity of 26.22%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. equities analysts forecast that Atkore International Group will post 1.47 EPS for the current year.

In other news, insider John Patrick Williamson sold 8,641 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $20.01, for a total transaction of $172,906.41. Following the completion of the transaction, the insider now owns 174,196 shares of the company’s stock, valued at $3,485,661.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James A. Mallak sold 9,575 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $20.01, for a total transaction of $191,595.75. Following the transaction, the chief financial officer now directly owns 81,563 shares of the company’s stock, valued at approximately $1,632,075.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,384 shares of company stock valued at $7,032,997. Corporate insiders own 51.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ATKR. Victory Capital Management Inc. raised its stake in shares of Atkore International Group by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,898 shares of the company’s stock valued at $133,000 after purchasing an additional 885 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Atkore International Group by 300.6% during the second quarter. Legal & General Group Plc now owns 8,140 shares of the company’s stock valued at $183,000 after purchasing an additional 6,108 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Atkore International Group during the second quarter valued at about $205,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Atkore International Group during the third quarter valued at about $237,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Atkore International Group during the third quarter valued at about $314,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

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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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