Citigroup Inc. Reiterates Buy Rating for Atkore International Group Inc (ATKR)

Atkore International Group Inc (NASDAQ:ATKR)‘s stock had its “buy” rating restated by investment analysts at Citigroup Inc. in a note issued to investors on Monday. They presently have a $23.00 price target on the stock, up from their prior price target of $22.00. Citigroup Inc.’s price objective suggests a potential upside of 17.17% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Atkore International Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Royal Bank Of Canada restated 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 cut Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. Credit Suisse Group upgraded 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. Finally, Zacks Investment Research cut Atkore International Group from a “hold” rating to a “strong sell” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Atkore International Group presently has a consensus rating of “Buy” and an average price target of $21.67.

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

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, beating analysts’ consensus estimates of $0.42 by $0.02. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The business had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $424.49 million. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that Atkore International Group will post $1.43 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Atkore International Group by 13.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock worth $80,044,000 after buying an additional 417,268 shares during the period. Lazard Asset Management LLC increased its position in Atkore International Group by 44.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,047,049 shares of the company’s stock worth $46,160,000 after buying an additional 631,873 shares during the period. FMR LLC increased its position in Atkore International Group by 18.3% during the 2nd quarter. FMR LLC now owns 1,527,400 shares of the c

Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Atkore International Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Royal Bank Of Canada restated 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 cut Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. Credit Suisse Group upgraded 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. Finally, Zacks Investment Research cut Atkore International Group from a “hold” rating to a “strong sell” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Atkore International Group presently has a consensus rating of “Buy” and an average price target of $21.67.

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

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, beating analysts’ consensus estimates of $0.42 by $0.02. Atkore International Group had a return on equity of 33.89% and a net margin of 6.91%. The business had revenue of $397.70 million for the quarter, compared to analysts’ expectations of $424.49 million. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts forecast that Atkore International Group will post $1.43 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/11/citigroup-inc-reiterates-buy-rating-for-atkore-international-group-inc-atkr.html.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Atkore International Group by 13.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,549,616 shares of the company’s stock worth $80,044,000 after buying an additional 417,268 shares during the period. Lazard Asset Management LLC increased its position in Atkore International Group by 44.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,047,049 shares of the company’s stock worth $46,160,000 after buying an additional 631,873 shares during the period. FMR LLC increased its position in Atkore International Group by 18.3% during the 2nd quarter. FMR LLC now owns 1,527,400 shares of the company’s stock worth $34,443,000 after buying an additional 235,900 shares during the period. Wells Fargo & Company MN increased its position in Atkore International Group by 94.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,272,105 shares of the company’s stock worth $28,686,000 after buying an additional 619,468 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Atkore International Group by 9.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,152,519 shares of the company’s stock worth $25,989,000 after buying an additional 102,399 shares during the period.

Atkore International Group Company Profile

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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