Atkore International (ATKR) Has Been Downgraded Today by Citigroup to a “Neutral”

September 8, 2018 - By Mark Babin

Atkore International (ATKR) Receives a Downgrade

Citigroup has given Atkore International (ATKR) shares a new “Neutral” rating in an analyst note released on Friday morning. This was a downgrade from the previous “Buy” rating.

Atkore International Group Inc. (NYSE:ATKR) Ratings Coverage

Among 2 analysts covering Atkore International Gr (ATKR), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Atkore International Gr has $29 highest and $27 lowest target. $28’s average target is 8.61% above currents $25.78 stock price. Atkore International Gr had 3 analyst reports since April 9, 2018 according to SRatingsIntel. Citigroup maintained the shares of ATKR in report on Monday, April 9 with “Buy” rating. UBS maintained Atkore International Group Inc. (NYSE:ATKR) rating on Thursday, August 30. UBS has “Neutral” rating and $29 target. The rating was downgraded by Citigroup on Friday, September 7 to “Neutral”.

The stock decreased 4.77% or $1.29 during the last trading session, reaching $25.78. About 818,038 shares traded or 57.07% up from the average. Atkore International Group Inc. (ATKR) has risen 0.74% since September 8, 2017 and is uptrending. It has underperformed by 11.83% the S&P500.

Analysts await Atkore International Group Inc. (NYSE:ATKR) to report earnings on December, 5. They expect $0.61 EPS, up 96.77 % or $0.30 from last year’s $0.31 per share. ATKR’s profit will be $28.09 million for 10.57 P/E if the $0.61 EPS becomes a reality. After $0.70 actual EPS reported by Atkore International Group Inc. for the previous quarter, Wall Street now forecasts -12.86 % negative EPS growth.

Atkore International Group Inc. manufactures and distributes electrical raceway products in the United States and internationally. The company has market cap of $1.19 billion. The companyÂ’s electrical raceway products include metal, polyvinyl chloride, and flexible electrical conduit and fittings; armored cable and fittings; and cable tray and cable ladders for the non-residential construction and renovation markets. It has a 12.22 P/E ratio. It also offers mechanical products and solutions comprising metal framing and fittings, mechanical pipes, flexible sprinkler drops, and barbed tapes, as well as construction services for the construction and industrial markets.

Atkore International Group Inc. (NYSE:ATKR) Ratings Chart

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