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

ATCO Ltd. (TSE:ACO.X) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$64.07 and traded as high as C$72.41. ATCO shares last traded at C$72.17, with a volume of 656,562 shares.

Analysts Set New Price Targets

ACO.X has been the topic of several research reports. National Bank Financial increased their price target on shares of ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. TD Securities lifted their price objective on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Scotia increased their target price on ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce raised their price target on ATCO from C$72.00 to C$82.00 in a research report on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$69.86.

ATCO Trading Up 1.0%

The business’s 50-day moving average price is C$69.63 and its two-hundred day moving average price is C$64.20. 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 firm has a market cap of C$7.41 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 3.80 and a beta of 0.36.

ATCO (TSE:ACO.X) last announced its earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) for the quarter. The firm had revenue of C$1.43 billion for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. Equities analysts expect 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.