Atlas Engineered Products (CVE:AEP) Shares Down 10.1% - Time to Sell?

Key Points

• Atlas Engineered Products Ltd.'s stock price dropped by 10.1% to C$0.71, marking a significant decline during mid-day trading with an unusual volume surge of 550%.
• Despite the recent downturn, analysts suggest a bullish outlook with a consensus target price of C$1.58 and a "Buy" rating from multiple brokerages, including Desjardins and Raymond James Financial.
• The company operates in the construction sector, specializing in engineered wood products and services for residential and commercial buildings.

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

Wall Street Analyst Weigh In

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

Atlas Engineered Products Stock Performance

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

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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