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

Atlas Engineered Products logo with Industrials background

Key Points

  • Atlas Engineered Products Ltd. stock price dropped by 10.1% to C$0.71, following a significant increase in trading volume to 649,129 shares.
  • Analysts have a favorable outlook, with a "buy" rating and a target price of C$1.50 from both Desjardins and Raymond James Financial.
  • The company designs and manufactures engineered products for residential and commercial wood-framed buildings, and has a market capitalization of C$49.93 million.
  • Interested in Atlas Engineered Products? Here are five stocks we like better.

Shares of Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report) traded 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. 649,129 shares were traded during trading, an increase of 550% from the average session volume of 99,912 shares. The stock had previously closed at C$0.79.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James Financial set a C$1.50 price target on Atlas Engineered Products and gave the company a "buy" rating in a research report on Wednesday, May 28th. Desjardins dropped their price target 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$1.53.

Get Our Latest Stock Report on Atlas Engineered Products

Atlas Engineered Products Stock Performance

The stock has a market capitalization of C$48.52 million, a P/E ratio of 69.00 and a beta of 0.39. The stock has a 50 day moving average of C$0.85 and a 200 day moving average of C$0.86. The company has a debt-to-equity ratio of 62.14, a quick ratio of 2.31 and a current ratio of 4.16.

About Atlas Engineered Products

(Get Free Report)

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.

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