ATCO (TSE:ACO.X) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• ATCO shares moved above their 200-day moving average of C$69.03, reaching C$75.72 before last trading at C$73.90 on volume of 307,098 shares.
• Analysts raised their price targets, with targets ranging from C$79 to C$88. Despite one Buy rating, five analysts rate the stock Hold, producing an average rating of “Hold” and an average target of C$78.29.
• ATCO reported quarterly EPS of C$1.01, alongside an 8.54% return on equity and an 8.16% net margin. The company has a C$8.32 billion market capitalization and a debt-to-equity ratio of 131.63.

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s share price passed 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 Ratings Changes

A number of research firms recently issued reports on ACO.X. National Bank Financial raised their price target on ATCO from C$69.00 to C$79.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Royal Bank Of Canada boosted 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. Scotiabank increased their price objective on ATCO from C$70.00 to C$79.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Scotia raised their target price on shares of ATCO from C$67.00 to C$70.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$78.29.

ATCO Stock Down 2.2%

The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The firm's 50 day moving average price is C$74.82 and its two-hundred day moving average price is C$69.03. The firm has a market cap of C$8.32 billion, a price-to-earnings ratio of 46.19, a P/E/G ratio of 3.80 and a beta of 0.37.

ATCO (TSE:ACO.X - Get Free Report) last issued its quarterly 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, sell-side analysts forecast that ATCO Ltd. will post 4.1980634 earnings per share for the current fiscal 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.

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