ATCO (TSE:ACO.X) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of ATCO Ltd. (TSE:ACO.X) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$67.88 and traded as high as C$78.97. ATCO shares last traded at C$78.31, with a volume of 265,368 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. National Bank Financial raised their target price on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted their price target on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price target on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Finally, Scotia increased their price objective 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. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATCO presently has a consensus rating of “Hold” and an average price target of C$72.43.

ATCO Stock Up 0.6%

The firm has a 50-day moving average price of C$73.48 and a two-hundred day moving average price of C$67.88. The company has a market capitalization of C$7.91 billion, a P/E ratio of 56.34, a PEG ratio of 3.80 and a beta of 0.35. 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 announced its 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%. Equities research analysts anticipate that ATCO Ltd. will post 4.1980634 EPS 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.