ATCO (TSE:ACO.X) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of ATCO Ltd. (TSE:ACO.X) passed 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce cut their price objective on ATCO from C$88.00 to C$85.00 in a research report on Tuesday, September 22nd. Scotiabank lifted their target price on ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. BMO Capital Markets boosted their target price on ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price target on ATCO from C$80.00 to C$94.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. Finally, National Bank Financial increased their price target on ATCO from C$79.00 to C$93.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$81.86.

ATCO Stock Performance

The business’s fifty day moving average is C$75.48 and its two-hundred day moving average is C$73.46. The stock has a market capitalization of C$8.22 billion, a PE ratio of 50.85, a price-to-earnings-growth ratio of 3.80 and a beta of 0.20. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63.

ATCO (TSE:ACO.X) 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 net margin of 8.16% and a return on equity of 8.54%. As a group, research analysts anticipate that ATCO Ltd. will post 4.20 EPS 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.