Atento’s (ATTO) “Buy” Rating Reaffirmed at Barrington Research

Barrington Research reissued their buy rating on shares of Atento (NYSE:ATTO) in a research note published on Thursday morning, AnalystRatings.com reports. The firm currently has a $8.00 price target on the business services provider’s stock.

“We view ATTO shares as a compelling investment due to the company’s market leadership in a large target market. Company Description Atento is the largest provider of customer engagement services (CES) in the top five providers worldwide, based on revenue. The company’s fastest growing businesses are near-shore CES and high value business- process management (BPM) services, which together comprised 28% of Q2/19 revenue in constant currency. The latter involves collections, credit origination and technical support. Since 1999, the company has built a business spanning 13 countries where it employs 150,000 people. Atento has over 400 clients, including many blue-chip companies, and its verticals include communications, banking/financial services, healthcare, retail and the public sector.”,” Barrington Research’s analyst commented.

ATTO has been the topic of several other research reports. Zacks Investment Research lowered shares of Atento from a hold rating to a sell rating in a report on Wednesday, May 22nd. ValuEngine lowered shares of Atento from a sell rating to a strong sell rating in a report on Thursday, April 18th. TheStreet lowered shares of Atento from a c rating to a d rating in a report on Friday, July 19th. Finally, Morgan Stanley lowered shares of Atento from an overweight rating to an equal weight rating and lowered their target price for the stock from $8.00 to $3.00 in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $5.88.

Shares of ATTO stock remained flat at $$2.38 during mid-day trading on Thursday. 41,634 shares of the stock were exchanged, compared to its average volume of 202,673. Atento has a 52 week low of $2.16 and a 52 week high of $8.45. The company has a market cap of $175.90 million, a P/E ratio of 6.10, a P/E/G ratio of 0.59 and a beta of 0.74. The company has a quick ratio of 1.25, a current ratio of 1.46 and a debt-to-equity ratio of 2.14. The firm’s fifty day simple moving average is $2.39.

Atento (NYSE:ATTO) last posted its earnings results on Tuesday, July 30th. The business services provider reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.14). Atento had a positive return on equity of 9.19% and a negative net margin of 2.03%. The firm had revenue of $441.10 million during the quarter. Sell-side analysts anticipate that Atento will post 0.4 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Two Sigma Investments LP raised its holdings in shares of Atento by 139.2% in the 4th quarter. Two Sigma Investments LP now owns 144,556 shares of the business services provider’s stock worth $580,000 after purchasing an additional 84,127 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Atento by 48.9% in the 4th quarter. Two Sigma Advisers LP now owns 104,100 shares of the business services provider’s stock worth $417,000 after purchasing an additional 34,200 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Atento by 81.8% in the 4th quarter. Squarepoint Ops LLC now owns 53,200 shares of the business services provider’s stock worth $213,000 after purchasing an additional 23,931 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Atento in the 4th quarter worth approximately $149,000. Finally, Deutsche Bank AG raised its holdings in shares of Atento by 2,239.4% in the 4th quarter. Deutsche Bank AG now owns 86,559 shares of the business services provider’s stock worth $347,000 after purchasing an additional 82,859 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

About Atento

Atento SA, together with its subsidiaries, provides customer relationship management and business process outsourcing services and solutions in Brazil, the Americas, Europe, the Middle East, and Africa. It offers a range of front and back-end services, including sales, customer care, collections, back office, applications-processing, credit-management, and technical support services.

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