Atlas Technical Consultants (NASDAQ:ATCX) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Atlas Technical Consultants (NASDAQ:ATCX) from a hold rating to a sell rating in a report published 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, Johnson Rice assumed coverage on Atlas Technical Consultants in a report on Tuesday, September 21st. They set a buy rating and a $13.00 price objective for the company.

ATCX stock opened at $8.50 on Tuesday. The stock’s 50 day simple moving average is $9.02 and its 200 day simple moving average is $9.82. Atlas Technical Consultants has a fifty-two week low of $7.50 and a fifty-two week high of $15.40.

Atlas Technical Consultants (NASDAQ:ATCX) last issued its quarterly earnings data on Monday, November 15th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.14). The company had revenue of $138.72 million during the quarter, compared to analysts’ expectations of $134.60 million. Atlas Technical Consultants had a negative return on equity of 18.44% and a negative net margin of 1.45%. During the same period last year, the company earned ($0.16) earnings per share. On average, equities research analysts forecast that Atlas Technical Consultants will post 0.4 earnings per share for the current year.

In related news, CAO Walter George Powell acquired 9,000 shares of the firm’s stock in a transaction dated Friday, November 19th. The shares were purchased at an average price of $10.13 per share, for a total transaction of $91,170.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Parnell acquired 3,826 shares of the firm’s stock in a transaction dated Monday, December 13th. The stock was bought at an average price of $7.80 per share, for a total transaction of $29,842.80. The disclosure for this purchase can be found here. Insiders have acquired 31,063 shares of company stock worth $274,509 in the last 90 days. Company insiders own 18.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Atlas Technical Consultants by 167.2% during the 3rd quarter. Royal Bank of Canada now owns 2,464 shares of the company’s stock valued at $25,000 after acquiring an additional 1,542 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Atlas Technical Consultants during the 3rd quarter valued at approximately $42,000. Penserra Capital Management LLC bought a new stake in Atlas Technical Consultants during the 3rd quarter valued at approximately $45,000. JPMorgan Chase & Co. bought a new stake in Atlas Technical Consultants during the 2nd quarter valued at approximately $50,000. Finally, Wells Fargo & Company MN boosted its position in Atlas Technical Consultants by 35.6% during the 2nd quarter. Wells Fargo & Company MN now owns 5,774 shares of the company’s stock valued at $56,000 after acquiring an additional 1,517 shares in the last quarter. 22.51% of the stock is currently owned by institutional investors.

Atlas Technical Consultants Company Profile

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, helping its clients test, inspect, plan, design, certify, and manage various projects across various end markets.

Recommended Story: Beige Book

Get a free copy of the Zacks research report on Atlas Technical Consultants (ATCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Atlas Technical Consultants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlas Technical Consultants and related companies with MarketBeat.com's FREE daily email newsletter.