Atento S.A. (NYSE:ATTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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 research analysts have also recently weighed in on ATTO. Bank of America Corporation boosted their price target on shares of Atento from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, July 25th. Barrington Research upped their target price on shares of Atento from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Monday, August 21st. BidaskClub cut shares of Atento from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 30th. ValuEngine raised shares of Atento from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Atento in a research report on Tuesday, September 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Atento presently has an average rating of “Buy” and a consensus target price of $14.50.

Shares of Atento (NYSE:ATTO) traded up 0.43% during midday trading on Monday, hitting $11.60. 53,893 shares of the stock traded hands. The company’s 50 day moving average price is $11.81 and its 200-day moving average price is $10.91. Atento has a 12-month low of $6.85 and a 12-month high of $12.30. The stock has a market cap of $857.34 million, a price-to-earnings ratio of 47.54 and a beta of 0.03.

Atento (NYSE:ATTO) last announced its quarterly earnings results on Monday, August 14th. The business services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $473.70 million for the quarter, compared to analyst estimates of $464.12 million. Atento had a net margin of 0.99% and a return on equity of 11.96%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, equities research analysts expect that Atento will post $0.76 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of ATTO. Wellington Management Group LLP lifted its position in Atento by 16.6% in the first quarter. Wellington Management Group LLP now owns 2,739,190 shares of the business services provider’s stock valued at $25,063,000 after buying an additional 390,573 shares during the last quarter. Eidelman Virant Capital acquired a new position in Atento in the second quarter valued at about $2,523,000. Nationwide Fund Advisors lifted its position in Atento by 26.3% in the second quarter. Nationwide Fund Advisors now owns 540,844 shares of the business services provider’s stock valued at $6,030,000 after buying an additional 112,564 shares during the last quarter. Newfoundland Capital Management lifted its position in Atento by 4.1% in the second quarter. Newfoundland Capital Management now owns 1,689,408 shares of the business services provider’s stock valued at $18,837,000 after buying an additional 66,528 shares during the last quarter. Finally, Morgan Stanley lifted its position in Atento by 51.8% in the first quarter. Morgan Stanley now owns 172,731 shares of the business services provider’s stock valued at $1,580,000 after buying an additional 58,924 shares during the last quarter. 95.69% of the stock is currently owned by institutional investors.

Atento Company Profile

Atento SA is a provider of customer-relationship management and business-process outsourcing (CRM BPO) services and solutions in Latin America. The Company offers a portfolio of CRM BPO services, including customer care, sales, collections, back office and technical support. The Company operates through three segments: EMEA, Americas and Brazil.

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