Atlas Engineered Products (CVE:AEP) Shares Down 5.5% – Here’s What Happened

Atlas Engineered Products Ltd. (CVE:AEP) was down 5.5% during trading on Thursday . The stock traded as low as C$1.19 and last traded at C$1.20. Approximately 178,720 shares changed hands during trading, an increase of 47% from the average daily volume of 121,948 shares. The stock had previously closed at C$1.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AEP shares. Cormark dropped their price objective on shares of Atlas Engineered Products from C$2.20 to C$2.10 in a report on Tuesday, August 20th. Raymond James set a C$2.25 price target on shares of Atlas Engineered Products and gave the stock a “strong-buy” rating in a research report on Thursday, September 12th.

Atlas Engineered Products Stock Down 5.5 %

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 simple moving average of C$1.31 and a 200-day simple moving average of C$1.36. The firm has a market cap of C$70.94 million, a P/E ratio of 17.14 and a beta of 1.13.

Atlas Engineered Products (CVE:AEP) last announced its quarterly earnings data on Friday, August 16th. The company reported C$0.01 earnings per share (EPS) for the quarter. Atlas Engineered Products had a return on equity of 3.90% and a net margin of 2.90%. The company had revenue of C$15.09 million during the quarter, compared to the consensus estimate of C$13.95 million. On average, equities analysts anticipate that Atlas Engineered Products Ltd. will post 0.1050521 earnings per share for the current year.

Insider Buying and Selling at Atlas Engineered Products

In other Atlas Engineered Products news, Director Mohammad Hadi Abassi sold 195,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of C$1.30, for a total transaction of C$253,500.00. Insiders own 14.49% of the company’s stock.

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.