Atlas Copco (OTCMKTS:ATLKY) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Atlas Copco's share price fell below its 200-day moving average of $16.38, trading as low as $15.70 before closing at $15.98 with a volume of 295,911 shares.
• Redburn Atlantic downgraded Atlas Copco from a "strong-buy" rating to a "hold" rating, signaling a shift in analyst sentiment.
• The company reported $0.14 earnings per share for its last quarter, which matched analyst expectations, with revenues of $4.22 billion.

Atlas Copco AB (OTCMKTS:ATLKY - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.38 and traded as low as $15.70. Atlas Copco shares last traded at $15.98, with a volume of 295,911 shares traded.

Wall Street Analyst Weigh In

Separately, Redburn Atlantic lowered Atlas Copco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th.

Atlas Copco Stock Performance

The stock has a market capitalization of $77.90 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 22.19 and a beta of 1.35. The company has a 50 day simple moving average of $16.27 and a 200-day simple moving average of $16.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.74 and a quick ratio of 1.23.

Atlas Copco (OTCMKTS:ATLKY - Get Free Report) last issued its earnings results on Friday, July 18th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $4.22 billion for the quarter, compared to analyst estimates of $42.93 billion. Atlas Copco had a return on equity of 26.20% and a net margin of 16.22%. On average, equities analysts forecast that Atlas Copco AB will post 0.55 EPS for the current year.

About Atlas Copco

Atlas Copco AB provides compressed air and gas, vacuum, energy, dewatering and industrial pump, industrial power tool, and assembly and machine vision solutions in North America, South America, Europe, Africa, the Middle East, Asia, and Oceania. It operates through Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique segments.

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