ATCO (TSE:ACO.X) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of ATCO Ltd. (TSE:ACO.X) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$61.77 and traded as high as C$71.70. ATCO shares last traded at C$69.57, with a volume of 350,724 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Securities boosted their price objective on shares of ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on shares of ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Scotia raised their price objective on shares of ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. BMO Capital Markets lifted their price target on shares of ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. Finally, National Bank Financial lifted their price target on shares of ATCO from C$57.00 to C$62.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$68.86.

ATCO Price Performance

The stock’s fifty day moving average is C$68.38 and its 200-day moving average is C$61.77. The stock has a market capitalization of C$7.02 billion, a PE ratio of 50.05, a P/E/G ratio of 3.80 and a beta of 0.46. 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 issued its earnings results on Wednesday, May 6th. The company reported C$1.47 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The business had revenue of C$1.43 billion during the quarter. As a group, equities analysts predict that ATCO Ltd. will post 4.1980634 earnings per share for the current fiscal year.

ATCO Company Profile

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.