Atkore International Group Inc (NYSE:ATKR) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 788,900 shares, a drop of 8.5% from the May 30th total of 862,000 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average trading volume of 288,300 shares, the days-to-cover ratio is currently 2.7 days.
In other Atkore International Group news, insider Peter J. Lariviere sold 9,640 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $24.66, for a total value of $237,722.40. Following the completion of the sale, the insider now owns 122,082 shares of the company’s stock, valued at $3,010,542.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.03% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. increased its stake in Atkore International Group by 5.4% in the 2nd quarter. Clark Capital Management Group Inc. now owns 125,877 shares of the company’s stock worth $3,256,000 after purchasing an additional 6,430 shares in the last quarter. Denali Advisors LLC increased its stake in Atkore International Group by 228.9% in the 2nd quarter. Denali Advisors LLC now owns 12,500 shares of the company’s stock worth $323,000 after purchasing an additional 8,700 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in Atkore International Group in the 1st quarter worth about $2,153,000. Jennison Associates LLC purchased a new position in Atkore International Group in the 1st quarter worth about $914,000. Finally, AlphaCrest Capital Management LLC increased its stake in Atkore International Group by 78.5% in the 1st quarter. AlphaCrest Capital Management LLC now owns 24,100 shares of the company’s stock worth $519,000 after purchasing an additional 10,600 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. TheStreet downgraded shares of ZovioInc . from a “c-” rating to a “d” rating in a research report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of ATKR stock traded down $0.38 during mid-day trading on Monday, reaching $25.13. 1,104 shares of the company were exchanged, compared to its average volume of 277,613. Atkore International Group has a fifty-two week low of $17.47 and a fifty-two week high of $28.67. The company has a quick ratio of 1.66, a current ratio of 2.53 and a debt-to-equity ratio of 5.58. The company has a market capitalization of $1.18 billion, a P/E ratio of 10.12 and a beta of 1.81. The company has a 50 day moving average price of $24.95.
Atkore International Group (NYSE:ATKR) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.18. Atkore International Group had a net margin of 6.51% and a return on equity of 103.17%. The business had revenue of $469.30 million during the quarter, compared to the consensus estimate of $478.77 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Atkore International Group will post 2.73 earnings per share for the current fiscal year.
About Atkore International Group
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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