RBC Capital Markets Reaffirms Outperform Rating for Atkore International Group Inc (ATKR)
Atkore International Group Inc (NASDAQ:ATKR)‘s stock had its “outperform” rating reiterated by analysts at RBC Capital Markets in a research note issued to investors on Wednesday. They presently have a $25.00 target price on the stock, up from their prior target price of $21.00. RBC Capital Markets’ target price indicates a potential upside of 16.55% from the stock’s current price.
Several other research firms have also commented on ATKR. Royal Bank Of Canada lifted their price target on shares of Atkore International Group from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday. Zacks Investment Research lowered shares of Atkore International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Atkore International Group in a report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.75.
Shares of Atkore International Group (NASDAQ:ATKR) traded down 1.21% on Wednesday, reaching $21.19. 33,363 shares of the company’s stock traded hands. The company has a 50 day moving average price of $19.78 and a 200 day moving average price of $17.98. The firm has a market capitalization of $1.32 billion and a price-to-earnings ratio of 82.13. Atkore International Group has a 52 week low of $14.17 and a 52 week high of $22.49.
Atkore International Group (NASDAQ:ATKR) last posted its quarterly earnings results on Tuesday, November 29th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $416.24 million for the quarter, compared to analyst estimates of $423.05 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts predict that Atkore International Group will post $1.04 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of ATKR. Acrospire Investment Management LLC purchased a new stake in shares of Atkore International Group during the third quarter valued at $114,000. BlackRock Inc. bought a new stake in Atkore International Group during the third quarter worth approximately $196,000. BlackRock Advisors LLC bought a new stake in Atkore International Group during the third quarter worth approximately $204,000. Point72 Asia Hong Kong Ltd bought a new stake in Atkore International Group during the second quarter worth approximately $200,000. Finally, Teachers Advisors LLC bought a new stake in Atkore International Group during the third quarter worth approximately $242,000.
About Atkore International Group
Atkore International Group Inc, located in the US, manufactures and wholesales galvanized steel tubes and pipes, electrical conduit, armored wire and cable, metal framing systems and building components. It is also a holding company.
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