ATCO (TSE:ACO.X) Shares Cross Above 200 Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$69.03 and traded as high as C$75.72. ATCO shares last traded at C$73.90, with a volume of 307,098 shares changing hands.

Analyst Upgrades and Downgrades

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

ATCO Stock Performance

The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The business’s 50-day moving average is C$74.92 and its 200-day moving average is C$69.15. The company has a market capitalization of C$8.50 billion, a PE ratio of 47.23, a PEG ratio of 3.80 and a beta of 0.37.

ATCO (TSE:ACO.X) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share 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 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.