Atlas Engineered Products (CVE:AEP) Shares Down 10.1% - Here's Why

Key Points

• Atlas Engineered Products' shares dropped 10.1% during trading on Saturday, closing at C$0.71 after previously reaching C$0.79.
• Despite the decline, analysts maintain a positive outlook with a consensus target price of C$1.58 and a "buy" rating from two analysts.
• The company has a market capitalization of C$49.93 million and operates in the design and manufacture of engineered wood products for construction.

Shares of Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report) fell 10.1% during trading on Saturday . The stock traded as low as C$0.67 and last traded at C$0.71. 649,129 shares traded hands during trading, an increase of 550% from the average session volume of 99,912 shares. The stock had previously closed at C$0.79.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEP. Raymond James Financial set a C$1.50 target price on shares of Atlas Engineered Products and gave the company a "buy" rating in a research note on Wednesday, May 28th. Desjardins set a C$1.50 target price on shares of Atlas Engineered Products and gave the company a "buy" rating in a research note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$1.58.

Atlas Engineered Products Trading Down 10.1%

The company has a current ratio of 4.16, a quick ratio of 2.31 and a debt-to-equity ratio of 62.14. The firm has a market cap of C$49.93 million, a PE ratio of 71.00 and a beta of 0.39. The company's 50-day moving average is C$0.85 and its 200 day moving average is C$0.87.

About Atlas Engineered Products

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.

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