Zacks Investment Research lowered shares of Atkore International Group (NYSE:ATKR) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Atkore International Group Inc. manufactures and distributes electrical raceway products. It offers steel tubes and pipes, electrical conduit, armored wire and cable, cable trays, metal framing systems and building components. Atkore International Group Inc. is based in Harvey, Illinois. “

Separately, Credit Suisse Group started coverage on shares of Atkore International Group in a research report on Thursday, February 21st. They set a neutral rating and a $25.00 price target on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $27.00.

NYSE:ATKR opened at $24.00 on Monday. Atkore International Group has a 52 week low of $17.47 and a 52 week high of $28.67. The stock has a market cap of $1.07 billion, a P/E ratio of 9.68 and a beta of 1.91. The company has a debt-to-equity ratio of 7.07, a quick ratio of 1.39 and a current ratio of 2.18.

Atkore International Group (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. Atkore International Group had a net margin of 7.28% and a return on equity of 142.82%. The business had revenue of $452.03 million for the quarter, compared to analyst estimates of $449.53 million. During the same period last year, the firm earned $0.46 earnings per share. Atkore International Group’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that Atkore International Group will post 2.71 earnings per share for the current year.

In related news, insider Michael J. Schulte sold 57,291 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $24.22, for a total transaction of $1,387,588.02. Following the transaction, the insider now directly owns 188,202 shares of the company’s stock, valued at $4,558,252.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.03% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC bought a new position in Atkore International Group in the 4th quarter valued at about $34,000. Acadian Asset Management LLC bought a new position in Atkore International Group in the 4th quarter valued at about $35,000. Denali Advisors LLC bought a new position in Atkore International Group in the 1st quarter valued at about $82,000. First Hawaiian Bank increased its holdings in Atkore International Group by 40.9% in the 1st quarter. First Hawaiian Bank now owns 5,453 shares of the company’s stock valued at $117,000 after buying an additional 1,584 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Atkore International Group by 637.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,739 shares of the company’s stock valued at $126,000 after buying an additional 4,096 shares during the period. 97.89% of the stock is currently owned by hedge funds and other institutional investors.

Atkore International Group Company Profile

Atkore International Group Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.

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