In a report issued on July 13, Deane Dray from RBC Capital maintained a Buy rating on Atkore International Group (ATKR – Research Report), with a price target of $151.00. The company’s shares closed last Thursday at $81.67.
According to TipRanks.com, Dray is a 4-star analyst with an average return of 6.8% and a 46.1% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Evoqua Water Technologies, Emerson Electric Company, and Honeywell International.
Currently, the analyst consensus on Atkore International Group is a Moderate Buy with an average price target of $138.00.
Based on Atkore International Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $983 million and net profit of $233 million. In comparison, last year the company earned revenue of $640 million and had a net profit of $125 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ATKR in relation to earlier this year.
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Atkore International Group, Inc. engages in the manufacture of electrical raceway products. It operates through the Electrical Raceway; and Mechanical Products and Solutions (MP&S) segments. The Electrical Raceway segment manufactures products that deploy, isolate, and protect a structure’s electrical circuitry from the power source to the final outlet. The MP&S segment provides products and services that frame, support, and secure component parts in a range of structures, equipment, and systems in electrical, industrial, and construction applications. The company was founded on November 4, 2010 and is headquartered in Harvey, IL.
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