ATI Physical Therapy (NYSE:ATIP) Downgraded by Zacks Investment Research

ATI Physical Therapy (NYSE:ATIP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “ATI Physical Therapy Inc. is a portfolio company of Advent International as well as provider of outpatient physical therapy services. ATI Physical Therapy Inc., formerly known as Fortress Value Acquisition Corp. II, is based in NEW YORK. “

Separately, CJS Securities downgraded shares of ATI Physical Therapy to a “market perform” rating in a research report on Wednesday, October 20th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, ATI Physical Therapy has a consensus rating of “Hold” and an average price target of $5.66.

NYSE ATIP remained flat at $$3.46 on Thursday. 805,733 shares of the company were exchanged, compared to its average volume of 1,567,722. The firm has a fifty day moving average price of $3.62. ATI Physical Therapy has a 52 week low of $2.66 and a 52 week high of $13.05. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.09.

Several institutional investors have recently modified their holdings of the business. Advent International Corp MA acquired a new position in shares of ATI Physical Therapy in the second quarter worth about $1,105,025,000. Grosvenor Holdings L.L.C. acquired a new position in shares of ATI Physical Therapy in the third quarter worth about $37,267,000. Lazard Asset Management LLC purchased a new stake in shares of ATI Physical Therapy during the second quarter worth about $40,156,000. Bernzott Capital Advisors purchased a new stake in shares of ATI Physical Therapy during the third quarter worth about $14,312,000. Finally, Phoenix Holdings Ltd. increased its stake in shares of ATI Physical Therapy by 11.7% during the third quarter. Phoenix Holdings Ltd. now owns 3,685,596 shares of the company’s stock worth $14,005,000 after purchasing an additional 385,959 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

About ATI Physical Therapy

ATI Physical Therapy, Inc provides outpatient physical therapy services in the United States. It offers physical therapy, workers' comp rehab, sports medicine, hand therapy, women's health, specialty therapies, home health, complimentary injury screenings, and fitness centers through its 900 locations.

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