Zacks Investment Research Lowers Atlas Copco (OTCMKTS:ATLKY) to Hold

Atlas Copco (OTCMKTS:ATLKY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “ATLAS COPCO is a world leading provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In close cooperation with customers and business partners, and with 135 years of experience, Atlas Copco innovates for superior productivity. Headquartered in Stockholm, Sweden, the Group’s global reach spans more than 160 markets. “

Several other equities research analysts have also weighed in on the company. UBS Group reissued a “neutral” rating on shares of Atlas Copco in a report on Tuesday, April 13th. Kepler Capital Markets raised Atlas Copco from a “reduce” rating to a “hold” rating in a report on Tuesday, June 1st. Pareto Securities raised Atlas Copco from a “sell” rating to a “hold” rating in a report on Monday. Barclays reaffirmed an “equal weight” rating on shares of Atlas Copco in a report on Monday, May 10th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Atlas Copco in a report on Thursday, April 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.00.

Shares of Atlas Copco stock traded up $1.61 during trading hours on Monday, hitting $62.46. 45,011 shares of the company’s stock traded hands, compared to its average volume of 71,964. Atlas Copco has a 12-month low of $41.51 and a 12-month high of $66.50. The stock has a market capitalization of $75.86 billion, a PE ratio of 44.61 and a beta of 0.88. The stock’s fifty day moving average is $62.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.70 and a quick ratio of 1.27.

Atlas Copco (OTCMKTS:ATLKY) last announced its earnings results on Tuesday, April 27th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Atlas Copco had a return on equity of 27.13% and a net margin of 15.01%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.13 billion. Sell-side analysts anticipate that Atlas Copco will post 1.8 earnings per share for the current fiscal year.

About Atlas Copco

Atlas Copco AB, together with its subsidiaries, provides productivity solutions. The company operates through Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique segments. It offers piston compressors, oil-free tooth and scroll compressors, rotary screw compressors, oil-free blowers, oil-free centrifugal compressors, gas and process compressors, air and gas treatment equipment, and medical air solutions primarily for use in the manufacturing and process industries.

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