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

Key Points

• Atlas Engineered Products Ltd. experienced a significant drop in stock price by 10.1%, with shares trading as low as C$0.67 before closing at C$0.71.
• Equities analysts have a consensus Buy rating for the stock, with target prices set at C$1.50 by Raymond James and Desjardins, and an average price target of C$1.58.
• The company's market cap is approximately C$49.93 million, with notable financial metrics including a PE ratio of 71.00 and a debt-to-equity ratio of 62.14.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. 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. 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. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$1.53.

Atlas Engineered Products Trading Up 2.9%

The firm has a 50 day simple moving average of C$0.84 and a 200 day simple moving average of C$0.86. The firm has a market cap of C$49.22 million, a P/E ratio of 70.00 and a beta of 0.39. The company has a debt-to-equity ratio of 62.14, a quick ratio of 2.31 and a current ratio of 4.16.

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.