Atlas Engineered Products (CVE:AEP) Shares Down 1.6% – Here’s Why

Atlas Engineered Products Ltd. (CVE:AEP) shares fell 1.6% during mid-day trading on Friday . The stock traded as low as C$1.19 and last traded at C$1.20. 47,187 shares traded hands during trading, a decline of 30% from the average session volume of 66,964 shares. The stock had previously closed at C$1.22.

Analyst Upgrades and Downgrades

AEP has been the topic of a number of research reports. Raymond James set a C$2.25 target price on shares of Atlas Engineered Products and gave the company a “strong-buy” rating in a research note on Thursday, September 12th. Ventum Financial lowered their price target on Atlas Engineered Products from C$2.00 to C$1.75 in a report on Tuesday, November 26th.

Atlas Engineered Products Price Performance

The company has a market cap of C$70.94 million, a price-to-earnings ratio of 17.14 and a beta of 1.13. The company’s 50-day simple moving average is C$1.22 and its 200-day simple moving average is C$1.30. The company has a debt-to-equity ratio of 62.14, a current ratio of 4.16 and a quick ratio of 2.31.

About Atlas Engineered Products

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.