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

Key Points

• Atlas Engineered Products Ltd. (CVE:AEP) saw a significant drop of 10.1% in stock price, trading between C$0.67 and C$0.71 with nearly 649,129 shares traded, a 550% increase from its average volume.
• Analysts maintain a consensus "Buy" rating for AEP with a price target averaging C$1.58, as Raymond James and Desjardins both set a target of C$1.50.
• The company reports a debt-to-equity ratio of 62.14 and a market capitalization of approximately C$49.93 million, highlighting its financial structure and market standing.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report)'s stock price dropped 10.1% during mid-day trading on Saturday . The company traded as low as C$0.67 and last traded at C$0.71. Approximately 649,129 shares were traded during mid-day 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

AEP has been the subject of a number of recent analyst reports. Raymond James Financial set a C$1.50 price objective on Atlas Engineered Products and gave the company a "buy" rating in a research note on Wednesday, May 28th. Desjardins reduced their price objective on Atlas Engineered Products from C$1.50 to C$1.35 and set a "buy" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$1.53.

Atlas Engineered Products Price 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 company has a market cap of C$47.82 million, a P/E ratio of 68.00 and a beta of 0.39. The firm has a 50 day moving average price of C$0.84 and a two-hundred day moving average price of C$0.86.

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.