ATCO (TSE:ACO.X) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• ATCO shares moved above their 200-day moving average, reaching C$73.69 and closing at C$73.22, compared with the C$71.65 average.
• Analysts have raised their price targets, ranging from C$79 to C$88, but overall sentiment remains cautious: one analyst rates the stock a Buy and five rate it Hold. The average target is C$78.29.
• ATCO reported quarterly EPS of C$1.01, with an 8.54% return on equity and an 8.16% net margin. The company has a C$8.24 billion market capitalization and operates primarily in Canadian utilities and infrastructure.

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$71.65 and traded as high as C$73.69. ATCO shares last traded at C$73.22, with a volume of 184,643 shares.

Wall Street Analysts Forecast Growth

ACO.X has been the topic of a number of research analyst reports. Scotiabank upped their price target on ATCO from C$70.00 to C$79.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. National Bank Financial lifted their price objective on ATCO from C$69.00 to C$79.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Royal Bank Of Canada boosted their target price on ATCO from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 30th. BMO Capital Markets upped their target price on shares of ATCO from C$72.00 to C$85.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$78.29.

ATCO Stock Performance

The firm has a market capitalization of C$8.24 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 3.80 and a beta of 0.28. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The business's 50 day simple moving average is C$75.72 and its two-hundred day simple moving average is C$71.65.

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