ATCO (TSE:ACO.X) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• ATCO shares crossed above their 200-day moving average, reaching C$75.56 and last trading at C$75.43, compared with a 200-day average of C$70.24.
• Analysts raised their price targets to between C$70 and C$88, but the consensus view remains “Hold”, with a consensus target of C$78.29.
• ATCO reported quarterly earnings of C$1.01 per share; the company had an 8.54% return on equity and an 8.16% net margin.

Shares of ATCO Ltd. (TSE:ACO.X - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$70.24 and traded as high as C$75.56. ATCO shares last traded at C$75.43, with a volume of 265,693 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACO.X shares. Scotia boosted their price objective on ATCO from C$67.00 to C$70.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 7th. Royal Bank Of Canada raised their target price on 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. BMO Capital Markets lifted their price target on ATCO from C$72.00 to C$85.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce increased their price objective on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday, July 30th. Finally, Scotiabank boosted their target price on shares of ATCO from C$70.00 to C$79.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of C$78.29.

ATCO Stock Performance

The stock's 50-day moving average is C$75.68 and its 200 day moving average is C$70.24. The firm has a market cap of C$8.49 billion, a P/E ratio of 47.14, a PEG ratio of 3.80 and a beta of 0.37. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

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