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

Key Points

• Atlas Engineered Products shares fell by 10.1%, trading at C$0.71 after hitting a low of C$0.67 during mid-day trading on Saturday.
• Despite the recent drop in stock price, analysts maintain a "Buy" rating for the company, with a consensus target price set at C$1.58.
• The company has a market capitalization of C$49.93 million and a PE ratio of 71.00, indicating a moderate valuation level.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AEP shares. 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. Desjardins cut their price objective on shares of Atlas Engineered Products from C$1.50 to C$1.35 and set a "buy" rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Atlas Engineered Products presently has an average rating of "Buy" and an average target price of C$1.53.

Atlas Engineered Products Stock Up 2.9%

The company has a debt-to-equity ratio of 62.14, a current ratio of 4.16 and a quick ratio of 2.31. The business's fifty day simple moving average is C$0.84 and its two-hundred day simple moving average is C$0.86. The company has a market cap of C$49.22 million, a PE ratio of 70.00 and a beta of 0.39.

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.