ATCO (TSE:ACO.X) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• ATCO shares rose above their 200-day moving average, reaching C$82.11 and closing at C$81.36, compared with the C$73.46 long-term average.
• Analysts have raised several price targets, including National Bank Financial to C$93 and RBC to C$94, but the overall consensus remains “Hold” with a target price of C$81.86.
• ATCO reported quarterly EPS of C$1.01, with an 8.54% return on equity and an 8.16% net margin; analysts expect full-year EPS of approximately C$4.20.

ATCO Ltd. (TSE:ACO.X - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$73.46 and traded as high as C$82.11. ATCO shares last traded at C$81.36, with a volume of 245,212 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have commented on ACO.X shares. Scotiabank upped their target price on shares of ATCO from C$70.00 to C$79.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 21st. National Bank Financial lifted their price target on shares of ATCO from C$79.00 to C$93.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 8th. Royal Bank Of Canada lifted their price target on shares of ATCO from C$80.00 to C$94.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 8th. BMO Capital Markets boosted 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. Finally, Canadian Imperial Bank of Commerce lowered their price objective on shares of ATCO from C$88.00 to C$85.00 in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, ATCO has a consensus rating of "Hold" and a consensus target price of C$81.86.

ATCO Stock Up 0.2%

The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The company has a market capitalization of C$8.22 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 3.80 and a beta of 0.20. The firm has a 50-day moving average price of C$75.48 and a two-hundred day moving average price of C$73.46.

ATCO (TSE:ACO.X - Get Free Report) last announced its 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%. As a group, sell-side analysts anticipate that ATCO Ltd. will post 4.20 earnings per share for the current fiscal year.

About ATCO

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 20,000 employees and assets of $28 billion. ATCO is focused on delivering essential solutions across the housing, energy and defence sectors, helping build, power and protect a future everyone can count on. ATCO Structures delivers innovative modular solutions that help communities address growing housing demand while supporting industry and economic growth. Canadian Utilities, an ATCO subsidiary, delivers safe and reliable energy services through its utilities, midstream and generation businesses.

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