Zacks Investment Research Downgrades ATI Physical Therapy (NYSE:ATIP) to Sell

ATI Physical Therapy (NYSE:ATIPGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, 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. “

ATIP has been the topic of a number of other reports. Jefferies Financial Group raised ATI Physical Therapy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.50 to $5.00 in a research report on Friday, January 14th. Citigroup dropped their price target on ATI Physical Therapy from $3.50 to $2.25 in a research report on Wednesday, March 2nd. Benchmark raised ATI Physical Therapy from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Friday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ATI Physical Therapy in a research report on Wednesday, April 6th. They issued a “hold” rating and a $2.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.53.

Shares of ATIP opened at $1.62 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.05 and a quick ratio of 1.05. The business’s 50 day moving average price is $1.93 and its 200-day moving average price is $2.85. ATI Physical Therapy has a 52 week low of $1.55 and a 52 week high of $10.44.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC raised its stake in ATI Physical Therapy by 42.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 10,000 shares of the company’s stock valued at $38,000 after buying an additional 3,000 shares during the last quarter. Penserra Capital Management LLC raised its stake in ATI Physical Therapy by 51.7% during the 3rd quarter. Penserra Capital Management LLC now owns 10,524 shares of the company’s stock valued at $39,000 after buying an additional 3,586 shares during the last quarter. We Are One Seven LLC raised its stake in ATI Physical Therapy by 16.9% during the 4th quarter. We Are One Seven LLC now owns 55,158 shares of the company’s stock valued at $187,000 after buying an additional 7,977 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in shares of ATI Physical Therapy by 58.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 22,633 shares of the company’s stock worth $87,000 after purchasing an additional 8,392 shares in the last quarter. Finally, Capstone Financial Advisors Inc. purchased a new stake in shares of ATI Physical Therapy in the 3rd quarter worth $38,000. Institutional investors and hedge funds own 90.37% of the company’s stock.

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.

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