ATCO (TSE:ACO.X) Stock Passes Above 200-Day Moving Average – Should You Sell?

ATCO Ltd. (TSE:ACO.X)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$63.40 and traded as high as C$72.29. ATCO shares last traded at C$71.41, with a volume of 303,214 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ACO.X shares. National Bank Financial boosted their price objective on ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price objective on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Scotia boosted their price objective on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. BMO Capital Markets boosted their price objective on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$69.86.

ATCO Stock Down 0.9%

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 business has a 50-day moving average price of C$69.51 and a 200-day moving average price of C$63.62. The firm has a market capitalization of C$7.11 billion, a PE ratio of 50.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.36.

ATCO (TSE:ACO.X) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) for the quarter. The business had revenue of C$1.43 billion during the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. Equities research analysts forecast 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.