Atlas Copco AB (OTCMKTS:ATLKY) Short Interest Down 73.8% in June

Key Points

• Short interest in Atlas Copco AB plunged 73.8% in June, falling to 102,709 shares as of June 30 from 391,775 shares on June 15. The stock’s days-to-cover ratio is now just 0.1 days.
• Analyst sentiment is mixed, with one Strong Buy, four Buy, three Hold, and two Sell ratings, giving the stock an overall average rating of “Hold.” Recent actions included a Citigroup Buy reaffirmation and a Rothschild & Co Redburn upgrade to Strong Buy.
• The company’s latest earnings were in line on EPS but below revenue expectations, with Q1 EPS of $0.14 meeting estimates while revenue came in at $4.36 billion versus $4.46 billion expected. Atlas Copco also reported a net margin of 15.69% and return on equity of 23.91%.

Atlas Copco AB (OTCMKTS:ATLKY - Get Free Report) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 102,709 shares, a drop of 73.8% from the June 15th total of 391,775 shares. Based on an average daily volume of 734,680 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATLKY. Citigroup reaffirmed a "buy" rating on shares of Atlas Copco in a research report on Wednesday, June 24th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Atlas Copco in a research report on Thursday, April 30th. Rothschild & Co Redburn upgraded Atlas Copco from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Atlas Copco in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Atlas Copco Price Performance

ATLKY traded down $0.01 during midday trading on Friday, hitting $19.83. The company had a trading volume of 167,302 shares, compared to its average volume of 284,750. Atlas Copco has a twelve month low of $14.89 and a twelve month high of $22.05. The company has a market capitalization of $96.58 billion, a PE ratio of 35.41, a P/E/G ratio of 2.06 and a beta of 1.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.20 and a current ratio of 1.70. The firm's 50-day simple moving average is $19.53 and its 200-day simple moving average is $19.60.

Atlas Copco (OTCMKTS:ATLKY - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. Atlas Copco had a net margin of 15.69% and a return on equity of 23.91%. The business had revenue of $4.36 billion for the quarter, compared to analysts' expectations of $4.46 billion. Equities research analysts predict that Atlas Copco will post 0.66 EPS for the current fiscal year.

Atlas Copco Company Profile

Atlas Copco is a Sweden-based industrial group that develops, manufactures and services equipment and solutions for professional customers in a broad range of industries. The company's core activities center on compressed air and gas systems, vacuum solutions, construction and mining equipment, industrial tools and assembly systems, and power and flow equipment. Products and services span new-equipment sales, aftermarket parts, maintenance and technical support aimed at improving productivity, energy efficiency and safety for industrial operations.

Key product categories include stationary and portable air compressors, air treatment and gas generation systems, industrial vacuum pumps, generators and light towers, drilling rigs and rock excavation equipment for mining and construction, as well as electric and pneumatic tools and automated assembly systems for manufacturing.

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