ATCO (TSE:ACO.X) Stock Passes Above 200 Day Moving Average – Here’s What Happened

ATCO Ltd. (TSE:ACO.X) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$70.24 and traded as high as C$75.56. ATCO shares last traded at C$75.43, with a volume of 265,693 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotia increased their target price on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce lifted their price target on shares of ATCO from C$85.00 to C$88.00 in a research note on Thursday, July 30th. BMO Capital Markets upped their price target on shares of ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotiabank increased their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada raised their price objective on shares of ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$78.29.

ATCO Stock Up 1.1%

The firm has a 50-day moving average price of C$75.76 and a two-hundred day moving average price of C$70.35. The company has a market capitalization of C$8.56 billion, a price-to-earnings ratio of 47.57, a PEG ratio of 3.80 and a beta of 0.37. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

ATCO (TSE:ACO.X) last released its earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. As a group, sell-side analysts anticipate that ATCO Ltd. will post 4.1980634 earnings per share for the current fiscal year.

About ATCO

Atco Ltd is a Canadian holding company that offers gas, electric, and infrastructure solutions. The largest subsidiary of the company is Canadian utilities, which operates natural gas, electricity, and logistical services. Atco’s primary segments include Structures and Logistics; Utilities; Energy Infrastructure; Neltume Ports and Corporate and Other. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.