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

Key Points

• Atlas Engineered Products Ltd. shares fell by 10.1% to trade at C$0.71, with trading volume significantly increasing to 649,129 shares from an average of 99,912 shares.
• Analysts have set a price target of C$1.50 for Atlas Engineered Products, with a consensus rating of "Buy" and a target price of C$1.58.
• The company has a market capitalization of C$49.93 million and engages in the design and manufacture of engineered products for residential and commercial construction.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report)'s share 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 changed 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.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AEP. Raymond James Financial set a C$1.50 price target on Atlas Engineered Products and gave the company a "buy" rating in a report on Wednesday, May 28th. Desjardins decreased their price objective on Atlas Engineered Products from C$1.50 to C$1.35 and set a "buy" rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$1.53.

Atlas Engineered Products Trading Up 5.9%

The stock's fifty day simple moving average is C$0.84 and its two-hundred day simple moving average is C$0.86. The firm has a market cap of C$50.63 million, a PE ratio of 72.00 and a beta of 0.39. The company has a quick ratio of 2.31, a current ratio of 4.16 and a debt-to-equity ratio of 62.14.

Atlas Engineered Products Company Profile

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.