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

ATCO Ltd. (TSE:ACO.X)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$71.32 and traded as high as C$73.96. ATCO shares last traded at C$73.73, with a volume of 257,528 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACO.X. Royal Bank Of Canada lifted their price objective on ATCO from C$71.00 to C$80.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their price target on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday, July 30th. Scotiabank lifted their price target on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. BMO Capital Markets boosted their price objective on shares of 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, National Bank Financial increased their price objective on shares of ATCO from C$69.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, ATCO has a consensus rating of “Hold” and a consensus price target of C$78.29.

ATCO Stock Performance

The stock has a 50 day simple moving average of C$75.97 and a 200 day simple moving average of C$71.38. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a market cap of C$8.06 billion, a price-to-earnings ratio of 44.77, a PEG ratio of 3.80 and a beta of 0.28.

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