Barrington Research Reiterates Buy Rating for Atento (NYSE:ATTO)

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Barrington Research reaffirmed 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 objective 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 wrote.

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

Shares of NYSE ATTO opened at $2.38 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.46 and a debt-to-equity ratio of 2.14. Atento has a 12 month low of $2.16 and a 12 month high of $8.45. The company has a market cap of $175.90 million, a price-to-earnings ratio of 3.09, a PEG ratio of 0.60 and a beta of 0.74. The stock has a fifty day moving average of $2.39.

Atento (NYSE:ATTO) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported ($0.01) EPS 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 company had revenue of $441.10 million during the quarter. Research analysts expect that Atento will post 0.4 EPS for the current year.

Several large investors have recently added to or reduced their stakes in ATTO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Atento by 93.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,791 shares of the business services provider’s stock worth $147,000 after buying an additional 19,714 shares during the period. Millennium Management LLC purchased a new stake in shares of Atento in the 4th quarter worth about $149,000. Squarepoint Ops LLC grew its position 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 buying an additional 23,931 shares during the period. Deutsche Bank AG grew its position 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 buying an additional 82,859 shares during the period. Finally, Two Sigma Advisers LP grew its position 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 buying an additional 34,200 shares during the period. 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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