ATCO (TSE:ACO.X) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• ATCO shares crossed above their 200-day moving average, reaching C$73.96 and closing near C$73.73, compared with a 200-day average of C$71.32.
• Analysts have raised their price targets, with the consensus target now at C$78.29; however, the overall rating remains “Hold,” based on one Buy and five Hold ratings.
• ATCO reported quarterly EPS of C$1.01, with an 8.16% net margin and 8.54% return on equity. The company has a C$8.30 billion market capitalization and a high debt-to-equity ratio of 131.63.

ATCO Ltd. (TSE:ACO.X - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$71.32 and traded as high as C$73.96. ATCO shares last traded at C$73.73, with a volume of 257,528 shares.

Analyst Upgrades and Downgrades

ACO.X has been the subject of a number of recent analyst reports. National Bank Financial lifted their target price on ATCO from C$69.00 to C$79.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Scotiabank increased their price target on shares of ATCO from C$70.00 to C$79.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price objective on shares of 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. Canadian Imperial Bank of Commerce upped their target price on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday, July 30th. Finally, BMO Capital Markets raised their price target on shares of ATCO from C$72.00 to C$85.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$78.29.

ATCO Trading Up 0.4%

The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The firm has a market capitalization of C$8.30 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 3.80 and a beta of 0.28. The firm's 50-day simple moving average is C$76.00 and its 200-day simple moving average is C$71.32.

ATCO (TSE:ACO.X - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. Analysts anticipate that ATCO Ltd. will post 4.1980634 EPS for the current year.

ATCO Company Profile

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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