Atlas Copco (OTCMKTS:ATLKY) Shares Cross Above Fifty Day Moving Average - Time to Sell?

Key Points

• Atlas Copco shares rose above their 50-day moving average, trading as high as $20.71 and last changing hands at $20.64, which is a technical bullish signal.
• Analyst sentiment is mostly positive, with multiple firms upgrading or reiterating buy-style ratings and MarketBeat showing a consensus rating of Moderate Buy.
• Recent earnings were mixed: Atlas Copco missed EPS expectations by $0.01 but beat revenue estimates, reporting $4.66 billion in quarterly sales.

Atlas Copco AB (OTCMKTS:ATLKY - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $19.65 and traded as high as $20.71. Atlas Copco shares last traded at $20.64, with a volume of 714,640 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ATLKY. Rothschild & Co Redburn raised shares of Atlas Copco from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 20th. Morgan Stanley reissued an "overweight" rating on shares of Atlas Copco in a research note on Tuesday. The Goldman Sachs Group raised Atlas Copco from a "neutral" rating to a "buy" rating in a research report on Wednesday. Citigroup reissued a "buy" rating on shares of Atlas Copco in a research report on Friday, July 17th. 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, six have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Atlas Copco Trading Down 0.9%

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.70 and a quick ratio of 1.20. The company has a market capitalization of $100.53 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.42. The firm has a fifty day moving average price of $19.65 and a 200-day moving average price of $19.74.

Atlas Copco (OTCMKTS:ATLKY - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Atlas Copco had a return on equity of 23.81% and a net margin of 15.66%.The business had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.61 billion. On average, equities research analysts anticipate that Atlas Copco AB will post 0.65 earnings per share for the current year.

About Atlas Copco

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.