ATI Physical Therapy (NYSE:ATIP) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of ATI Physical Therapy (NYSE:ATIP) from a buy rating to a hold rating in a research report released on Tuesday morning, 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 cut ATI Physical Therapy to a market perform rating in a research report on Wednesday, October 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $5.28.

ATI Physical Therapy stock opened at $3.75 on Tuesday. The stock’s 50 day simple moving average is $3.40 and its two-hundred day simple moving average is $4.52. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.09. ATI Physical Therapy has a fifty-two week low of $2.66 and a fifty-two week high of $13.05.

ATI Physical Therapy (NYSE:ATIP) last posted its quarterly earnings data on Wednesday, November 17th. The company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.25). The business had revenue of $159.01 million during the quarter, compared to analyst estimates of $160.46 million. Sell-side analysts forecast that ATI Physical Therapy will post 0.74 earnings per share for the current year.

In related news, Chairman John L. Larsen purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, November 30th. The shares were purchased at an average cost of $3.63 per share, with a total value of $36,300.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new position in ATI Physical Therapy in the 2nd quarter worth approximately $66,000. Capstone Financial Advisors Inc. purchased a new position in ATI Physical Therapy in the 3rd quarter worth approximately $38,000. Patriot Financial Group Insurance Agency LLC raised its holdings in ATI Physical Therapy by 42.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 10,000 shares of the company’s stock worth $38,000 after acquiring an additional 3,000 shares during the last quarter. Walleye Trading LLC purchased a new stake in ATI Physical Therapy during the 2nd quarter valued at $103,000. Finally, Equitable Holdings Inc. purchased a new stake in ATI Physical Therapy during the 2nd quarter valued at $119,000. Institutional investors own 89.54% 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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