Atlas Copco AB (OTCMKTS:ATLKY) Sees Large Decrease in Short Interest

Key Points

• Short interest in Atlas Copco fell 37.2% to 57,390 shares as of October 15, representing 0.0% of shares outstanding and just 0.1 days to cover.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating: one Strong Buy, five Buys, two Holds and one Sell.
• Atlas Copco’s latest quarterly results were mixed: earnings per share of $0.16 missed estimates by $0.01, while revenue of $4.83 billion exceeded the $4.79 billion consensus forecast.

Atlas Copco AB (OTCMKTS:ATLKY - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 57,390 shares, a decrease of 37.2% from the September 30th total of 91,456 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 460,849 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

ATLKY has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an "underperform" rating on shares of Atlas Copco in a report on Wednesday, August 5th. The Goldman Sachs Group raised Atlas Copco from a "neutral" rating to a "buy" rating in a report on Wednesday, July 22nd. Citigroup restated a "buy" rating on shares of Atlas Copco in a report on Tuesday, October 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Atlas Copco in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Atlas Copco has a consensus rating of "Moderate Buy".

Atlas Copco Price Performance

Shares of ATLKY stock traded up $0.59 during trading hours on Monday, reaching $19.11. 278,699 shares of the company were exchanged, compared to its average volume of 393,057. The company has a market cap of $93.10 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 1.42 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 0.87. The stock's fifty day moving average is $20.50 and its two-hundred day moving average is $20.11. Atlas Copco has a fifty-two week low of $15.69 and a fifty-two week high of $22.42.

Atlas Copco (OTCMKTS:ATLKY - Get Free Report) last released its earnings results on Thursday, October 22nd. The industrial products company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.79 billion. Atlas Copco had a return on equity of 24.52% and a net margin of 15.69%. Sell-side analysts forecast that Atlas Copco will post 0.64 earnings per share for the current fiscal year.

Atlas Copco Company Profile

Atlas Copco AB is a Sweden-based industrial technology company that develops and manufactures equipment, systems and services for a broad range of industrial applications. Its principal business areas include compressed-air and gas equipment, vacuum solutions, industrial tools and assembly systems, and power and flow equipment.

The company's offerings include air compressors, dryers and treatment systems; vacuum pumps and related equipment; pneumatic, electric and battery-powered tools; automated assembly solutions; generators, pumps and construction equipment.

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