Atento (NYSE:ATTO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Atento (NYSE:ATTO) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $30.00 price objective on the business services provider’s stock.

According to Zacks, “Atento S.A. is a provider of customer relationship management and business process outsourcing (CRM BPO) services in Latin America and Spain. Its CRM BPO services include customer service, sales, credit management, technical support, back office, and service desk, as well as other BPO process services, such as training activities, workstation infrastructure, interactive voice response port implementation, telecommunications infrastructure, application development, and others. The Company’s clients are mostly multinational corporations in sectors such as telecommunications, banking and finance, health, consumption and public administration, among others. Atento S.A. is based in Luxembourg. “

Several other equities analysts have also recently issued reports on the company. Barrington Research raised their price objective on Atento from $31.00 to $32.00 and gave the stock an outperform rating in a research note on Wednesday, November 17th. The Goldman Sachs Group upgraded Atento from a sell rating to a neutral rating and raised their price objective for the stock from $11.40 to $30.00 in a research note on Tuesday, September 21st.

ATTO stock opened at $26.38 on Wednesday. Atento has a twelve month low of $15.61 and a twelve month high of $30.48. The company has a debt-to-equity ratio of 19.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $24.79 and a 200-day simple moving average of $25.38.

Atento (NYSE:ATTO) last released its quarterly earnings results on Monday, November 15th. The business services provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Atento had a negative return on equity of 2.83% and a negative net margin of 3.65%. The company had revenue of $368.60 million for the quarter, compared to analyst estimates of $382.80 million. During the same period in the previous year, the business posted ($0.09) EPS. On average, equities analysts anticipate that Atento will post -0.3 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in Atento in the second quarter valued at $230,000. Renaissance Technologies LLC raised its stake in shares of Atento by 39.8% during the second quarter. Renaissance Technologies LLC now owns 39,743 shares of the business services provider’s stock valued at $1,019,000 after purchasing an additional 11,320 shares in the last quarter. Morgan Stanley raised its stake in shares of Atento by 1.0% during the second quarter. Morgan Stanley now owns 122,228 shares of the business services provider’s stock valued at $3,134,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Lapides Asset Management LLC bought a new stake in shares of Atento during the third quarter valued at about $4,564,000. Institutional investors own 45.94% of the company’s stock.

Atento Company Profile

Atento SA engages in the provision of customer relationship management business process outsourcing services and solutions. The firm offers front-end and back-end services ranging from sales, applications processing, customer care, and credit management. It operates through the following geographical segments: Europe, the Middle East and Africa (EMEA), America, and Brazil.

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