Atlas Engineered Products (CVE:AEP) Stock Price Down 5.5% – Here’s Why

Atlas Engineered Products Ltd. (CVE:AEP)’s stock price dropped 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 were traded during trading, an increase of 47% from the average daily volume of 121,948 shares. The stock had previously closed at C$1.27.

Analyst Ratings Changes

A number of brokerages have weighed in on AEP. Cormark cut 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 Atlas Engineered Products and gave the stock a “strong-buy” rating in a research note on Thursday, September 12th.

Atlas Engineered Products Trading Down 5.5 %

The stock’s 50 day moving average is C$1.31 and its 200-day moving average is C$1.36. The company has a market cap of C$70.94 million, a P/E ratio of 17.14 and a beta of 1.13. The company has a current ratio of 4.16, a quick ratio of 2.31 and a debt-to-equity ratio of 62.14.

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

Insider Buying and Selling

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

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.