ATCO (TSE:ACO.X) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$56.47 and traded as high as C$66.45. ATCO shares last traded at C$65.93, with a volume of 266,717 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ACO.X shares. Scotiabank boosted their target price on shares of ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce lifted their price target on shares of ATCO from C$68.00 to C$69.00 in a report on Wednesday, January 21st. National Bank Financial upped their price objective on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. TD Securities increased their target price on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, BMO Capital Markets lifted their target price on ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$64.33.

ATCO Trading Up 0.2%

The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The business’s 50-day simple moving average is C$62.77 and its two-hundred day simple moving average is C$56.63. The stock has a market capitalization of C$6.81 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 3.80 and a beta of 0.55.

ATCO (TSE:ACO.X) last released its quarterly earnings data on Thursday, February 26th. The company reported C$1.37 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. On average, research 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.