Atlas (NYSE:ATCO) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Atlas (NYSE:ATCO) from a strong-buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Atlas Corp. is an asset manager which owns and operates the businesses in which it invests. The company’s wholly-owned subsidiaries include Seaspan and APR. Seaspan is containership owner/operator while APR is in mobile power solutions as a lessor and operator. Atlas Corp., formerly known as Seaspan Corporation, is based in HONG KONG, China. “

Other research analysts have also recently issued research reports about the stock. Credit Suisse Group upgraded shares of Atlas from a neutral rating to an outperform rating in a report on Thursday, November 18th. Citigroup started coverage on shares of Atlas in a report on Wednesday, October 6th. They issued a neutral rating and a $16.00 target price for the company. Finally, B. Riley upped their target price on shares of Atlas from $18.00 to $20.00 and gave the company a buy rating in a report on Wednesday, November 10th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $17.00.

Shares of NYSE:ATCO opened at $14.87 on Tuesday. Atlas has a 52 week low of $10.70 and a 52 week high of $16.49. The company’s 50 day moving average is $14.06 and its two-hundred day moving average is $14.23. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.16. The company has a market cap of $3.68 billion, a PE ratio of 23.98, a P/E/G ratio of 0.29 and a beta of 1.07.

Atlas (NYSE:ATCO) last announced its quarterly earnings data on Monday, November 8th. The company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.24. Atlas had a net margin of 14.68% and a return on equity of 12.73%. The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $409.15 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that Atlas will post 1.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Thursday, January 20th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, January 19th. This represents a $0.50 dividend on an annualized basis and a yield of 3.36%. Atlas’s payout ratio is currently 80.65%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of Atlas by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 8,121,704 shares of the company’s stock valued at $123,369,000 after purchasing an additional 201,085 shares in the last quarter. Morgan Stanley increased its holdings in shares of Atlas by 15.8% in the 2nd quarter. Morgan Stanley now owns 3,078,041 shares of the company’s stock valued at $43,862,000 after purchasing an additional 420,550 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Atlas by 10.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,381,927 shares of the company’s stock valued at $36,181,000 after purchasing an additional 220,800 shares in the last quarter. Bank of Montreal Can increased its holdings in Atlas by 15.9% during the 2nd quarter. Bank of Montreal Can now owns 2,035,949 shares of the company’s stock valued at $28,035,000 after acquiring an additional 279,703 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Atlas by 20.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,475,290 shares of the company’s stock valued at $22,409,000 after acquiring an additional 248,941 shares in the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.

Atlas Company Profile

Atlas Corp. operates as a global asset manager that owns and operates the businesses in which it invests. It focuses on deploying capital across multiple verticals to create growth opportunities for its shareholders. The firm operates through two subsidiaries, Seaspan and APR. Seaspan is an independent charter owner and operator of containerships and APR provides mobile power solutions.

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