ATCO (TSE:ACO.X) Share Price Crosses Above 200-Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$61.77 and traded as high as C$71.70. ATCO shares last traded at C$69.57, with a volume of 350,724 shares changing hands.

Analysts Set New Price Targets

ACO.X has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on shares of 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. TD Securities upped their target price on shares of ATCO from C$57.00 to C$67.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce upped their price objective on shares of ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. BMO Capital Markets upped their price objective on shares of ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Finally, National Bank Financial increased their target price on shares of ATCO from C$57.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$68.86.

ATCO Price Performance

The stock has a 50-day simple moving average of C$68.38 and a 200 day simple moving average of C$61.77. 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 stock has a market capitalization of C$7.02 billion, a price-to-earnings ratio of 50.05, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46.

ATCO (TSE:ACO.X) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%.The company had revenue of C$1.43 billion during the quarter. On average, equities research analysts forecast 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.