Atlas Technical Consultants (NASDAQ:ATCX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Atlas Technical Consultants (NASDAQ:ATCXGet Rating) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Atlas Technical Consultants Inc. provides technical testing, inspection engineering and consulting services. It serves transportation, commercial, water, government, education and industrial markets. Atlas Technical Consultants Inc., formerly known as Boxwood Merger Corp., is based in Austin, Texas. “

Separately, Stifel Nicolaus raised their target price on Atlas Technical Consultants from $13.00 to $16.00 and gave the stock a buy rating in a report on Thursday, March 17th.

Atlas Technical Consultants stock opened at $8.66 on Tuesday. The business’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $10.39. The stock has a market cap of $329.43 million, a price-to-earnings ratio of -15.75 and a beta of 0.12. Atlas Technical Consultants has a 12-month low of $7.50 and a 12-month high of $15.40.

Atlas Technical Consultants (NASDAQ:ATCXGet Rating) last issued its earnings results on Tuesday, March 15th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.08). Atlas Technical Consultants had a negative return on equity of 7.70% and a negative net margin of 3.25%. The company had revenue of $145.25 million for the quarter, compared to the consensus estimate of $140.70 million. During the same quarter last year, the business posted ($0.43) EPS. Research analysts predict that Atlas Technical Consultants will post 0.62 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in shares of Atlas Technical Consultants during the first quarter worth about $312,000. Goldman Sachs Group Inc. raised its position in shares of Atlas Technical Consultants by 194.4% during the first quarter. Goldman Sachs Group Inc. now owns 35,440 shares of the company’s stock worth $426,000 after purchasing an additional 23,402 shares during the period. State Street Corp raised its position in shares of Atlas Technical Consultants by 11.5% during the first quarter. State Street Corp now owns 227,752 shares of the company’s stock worth $2,742,000 after purchasing an additional 23,433 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Atlas Technical Consultants during the first quarter worth about $246,000. Finally, UBS Group AG raised its position in shares of Atlas Technical Consultants by 37.8% during the first quarter. UBS Group AG now owns 6,962 shares of the company’s stock worth $83,000 after purchasing an additional 1,910 shares during the period. 21.53% of the stock is currently owned by institutional investors.

Atlas Technical Consultants Company Profile (Get Rating)

Atlas Technical Consultants, Inc provides professional testing, inspection, engineering, environmental, and program management and consulting services in the United States. The company provides a range of technical services that helps its clients test, inspect, plan, design, certify, and manage various projects across various end markets.

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