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

Key Points

• Atlas Engineered Products Ltd. (CVE:AEP) experienced a significant drop of 10.1% in stock price, trading down to about C$0.71 from a previous close of C$0.79.
• Two analysts have a "buy" rating for AEP, with a price target set at C$1.50, while the average target among analysts is C$1.58.
• The company boasts a market capitalization of approximately C$49.93 million and has various ratios indicating financial health, including a current ratio of 4.16.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report)'s share price was down 10.1% during trading on Saturday . The stock 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.

Analyst Ratings Changes

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

Atlas Engineered Products Stock Down 1.4%

The company has a quick ratio of 2.31, a current ratio of 4.16 and a debt-to-equity ratio of 62.14. The company has a fifty day moving average price of C$0.84 and a 200-day moving average price of C$0.86. The stock has a market capitalization of C$47.82 million, a P/E ratio of 68.00 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.