ATCO (TSE:ACO.X) Shares Cross Above 200-Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$71.65 and traded as high as C$73.69. ATCO shares last traded at C$73.22, with a volume of 184,643 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Scotiabank upped their target price on ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. National Bank Financial boosted their price target on ATCO from C$69.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Royal Bank Of Canada upped their price objective 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. Canadian Imperial Bank of Commerce increased their price objective on ATCO from C$85.00 to C$88.00 in a research note on Thursday, July 30th. Finally, BMO Capital Markets lifted their price objective on ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$78.29.

ATCO Price Performance

The company’s 50 day simple moving average is C$75.69 and its 200 day simple moving average is C$71.66. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a market capitalization of C$8.24 billion, a PE ratio of 45.75, a PEG ratio of 3.80 and a beta of 0.28.

ATCO (TSE:ACO.X) last posted its quarterly earnings data 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%. On average, equities analysts anticipate that ATCO Ltd. will post 4.1980634 earnings per share for the current year.

About ATCO

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.