Atkore International Group Inc. (NASDAQ:ATKR) Lowered to “Hold” at BidaskClub

Atkore International Group Inc. (NYSE:ATKR) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, November 4th.

A number of other equities research analysts have also recently commented on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $23.00 price target on shares of Atkore International Group in a research note on Friday, October 13th. UBS Group AG cut Atkore International Group from a “buy” rating to a “neutral” rating and increased their price target for the company from $19.00 to $21.00 in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Atkore International Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Citigroup Inc. reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Atkore International Group in a research note on Monday, October 9th. Finally, TheStreet cut Atkore International Group from a “c-” rating to a “d+” rating in a research note on Wednesday, August 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.25.

Atkore International Group (ATKR) traded up $0.16 during trading on Friday, reaching $20.00. The company’s stock had a trading volume of 165,400 shares, compared to its average volume of 424,623. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.78 and a current ratio of 2.72. Atkore International Group has a 52 week low of $15.05 and a 52 week high of $27.30. The stock has a market capitalization of $1,271.41, a PE ratio of 16.67, a PEG ratio of 1.33 and a beta of 0.81.

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In related news, CEO John Patrick Williamson sold 13,536 shares of Atkore International Group stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $20.00, for a total transaction of $270,720.00. Following the completion of the transaction, the chief executive officer now directly owns 179,091 shares in the company, valued at $3,581,820. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James A. Mallak sold 21,867 shares of Atkore International Group stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.00, for a total value of $437,340.00. Following the transaction, the chief financial officer now owns 93,855 shares of the company’s stock, valued at $1,877,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,367 shares of company stock valued at $3,387,340. Company insiders own 68.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in Atkore International Group by 6.9% in the third quarter. Public Employees Retirement System of Ohio now owns 93,010 shares of the company’s stock valued at $1,815,000 after purchasing an additional 5,997 shares during the period. Point72 Asset Management L.P. acquired a new stake in Atkore International Group in the third quarter valued at approximately $3,526,000. Highbridge Capital Management LLC acquired a new stake in Atkore International Group in the third quarter valued at approximately $948,000. Cornerstone Capital Management Holdings LLC. grew its holdings in Atkore International Group by 69.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 156,282 shares of the company’s stock valued at $3,048,000 after purchasing an additional 64,200 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in Atkore International Group in the third quarter valued at approximately $488,000. 97.71% of the stock is currently owned by institutional investors.

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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