Zacks Investment Research Upgrades ATI Physical Therapy (NYSE:ATIP) to Hold

Zacks Investment Research upgraded shares of ATI Physical Therapy (NYSE:ATIP) from a sell rating to a hold rating in a report issued 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. “

Several other research firms have also weighed in on ATIP. Barrington Research lowered shares of ATI Physical Therapy from an outperform rating to a market perform rating and set a $3.98 price objective on the stock. in a research note on Tuesday, July 27th. Benchmark lowered shares of ATI Physical Therapy from a buy rating to a hold rating and set a $4.72 price objective on the stock. in a research note on Tuesday, July 27th. assumed coverage on shares of ATI Physical Therapy in a research note on Monday, July 12th. They set a buy rating and a $11.00 price objective on the stock. Citigroup lowered shares of ATI Physical Therapy from a buy rating to a neutral rating and lowered their price objective for the stock from $11.00 to $5.00 in a research note on Tuesday, July 27th. Finally, Jefferies Financial Group lowered shares of ATI Physical Therapy from a buy rating to a hold rating and lowered their price objective for the stock from $12.00 to $5.00 in a research note on Tuesday, July 27th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $5.94.

Shares of NYSE:ATIP opened at $3.71 on Tuesday. The business’s 50-day simple moving average is $5.19. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.66. ATI Physical Therapy has a one year low of $2.81 and a one year high of $13.05.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HBK Investments L P acquired a new position in ATI Physical Therapy in the 2nd quarter valued at about $4,595,000. Marshall Wace North America L.P. acquired a new position in ATI Physical Therapy in the 2nd quarter valued at about $2,350,000. Wells Fargo & Company MN acquired a new position in ATI Physical Therapy in the 2nd quarter valued at about $3,061,000. Walleye Capital LLC acquired a new position in ATI Physical Therapy in the 2nd quarter valued at about $183,000. Finally, Walleye Trading LLC acquired a new position in shares of ATI Physical Therapy during the 2nd quarter worth approximately $103,000. Institutional investors and hedge funds own 82.16% 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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