ATI Physical Therapy (NYSE:ATIP) Upgraded by Zacks Investment Research to “Buy”

ATI Physical Therapy (NYSE:ATIPGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $1.50 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential downside of 3.85% from the company’s previous close.

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. “

ATIP has been the subject of a number of other research reports. Citigroup reduced their price objective on ATI Physical Therapy from $3.50 to $2.25 in a research note on Wednesday, March 2nd. Jefferies Financial Group raised ATI Physical Therapy from a “hold” rating to a “buy” rating and raised their price objective for the company from $3.50 to $5.00 in a research note on Friday, January 14th. Deutsche Bank Aktiengesellschaft assumed coverage on ATI Physical Therapy in a research note on Wednesday, April 6th. They issued a “hold” rating and a $2.00 price objective for the company. Finally, Benchmark raised ATI Physical Therapy from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Friday, March 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $4.25.

NYSE ATIP traded up $0.24 during trading hours on Thursday, hitting $1.56. 1,344,472 shares of the company’s stock were exchanged, compared to its average volume of 1,303,721. The stock has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $2.66. ATI Physical Therapy has a 1-year low of $1.25 and a 1-year high of $10.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.06.

ATI Physical Therapy (NYSE:ATIPGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. Research analysts expect that ATI Physical Therapy will post -0.34 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of ATI Physical Therapy by 1.5% during the first quarter. BlackRock Inc. now owns 578,020 shares of the company’s stock valued at $1,087,000 after buying an additional 8,799 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of ATI Physical Therapy during the first quarter valued at approximately $63,000. Vista Capital Partners Inc. purchased a new position in shares of ATI Physical Therapy during the first quarter valued at approximately $35,000. Royce & Associates LP boosted its position in shares of ATI Physical Therapy by 89.6% during the first quarter. Royce & Associates LP now owns 1,341,800 shares of the company’s stock valued at $2,523,000 after buying an additional 634,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of ATI Physical Therapy by 150.9% during the first quarter. Envestnet Asset Management Inc. now owns 34,681 shares of the company’s stock valued at $65,000 after buying an additional 20,861 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors.

About ATI Physical Therapy (Get Rating)

ATI Physical Therapy, Inc operates as an outpatient physical therapy provider that specializes in outpatient rehabilitation and adjacent healthcare services in the United States. It offers a range of services to its patients, including physical therapy to treat spine, shoulder, knee, and neck injuries or pain; work conditioning and work hardening; and hand therapy, aquatic therapy, functional capacity assessment, and wellness programs.

Featured Stories

Get a free copy of the Zacks research report on ATI Physical Therapy (ATIP)

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

Analyst Recommendations for ATI Physical Therapy (NYSE:ATIP)

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