Atento (ATTO) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Atento (NYSE:ATTO) from a sell rating to a hold rating in a report released on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. Barrington Research reissued a buy rating and issued a $14.00 price objective on shares of Atento in a research report on Tuesday, July 31st. ValuEngine cut shares of Atento from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Finally, Robert W. Baird decreased their price objective on shares of Atento from $10.00 to $8.00 and set an outperform rating for the company in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $10.83.
Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of Atento by 0.5% during the third quarter. Acadian Asset Management LLC now owns 1,547,540 shares of the business services provider’s stock worth $11,605,000 after purchasing an additional 8,221 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Atento by 35.4% during the third quarter. Russell Investments Group Ltd. now owns 74,448 shares of the business services provider’s stock worth $558,000 after purchasing an additional 19,476 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Atento during the second quarter worth about $144,000. California Public Employees Retirement System lifted its position in shares of Atento by 160.3% during the first quarter. California Public Employees Retirement System now owns 38,521 shares of the business services provider’s stock worth $300,000 after purchasing an additional 23,721 shares during the last quarter. Finally, Advisory Research Inc. bought a new position in shares of Atento during the third quarter worth about $341,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.
Atento SA, together with its subsidiaries, provides customer relationship management and business process outsourcing services and solutions in Brazil, the Americas, Europe, the Middle East, and Africa. It offers a range of front and back-end services, including sales, customer care, collections, back office, applications-processing, credit-management, and technical support services.
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