ATCO (TSE:ACO.X) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

ATCO Ltd. (TSE:ACO.X)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$70.74 and traded as high as C$74.47. ATCO shares last traded at C$74.47, with a volume of 216,198 shares trading hands.

Analysts Set New Price Targets

ACO.X has been the subject of several analyst reports. Royal Bank Of Canada increased their price target on shares of 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. National Bank Financial lifted 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. Canadian Imperial Bank of Commerce upped their price objective on ATCO from C$72.00 to C$82.00 in a report on Monday, April 20th. Finally, Scotia increased their price objective on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ATCO has an average rating of “Hold” and an average target price of C$69.86.

ATCO Stock Performance

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$7.54 billion, a price-to-earnings ratio of 53.71, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35. The firm’s fifty day moving average price is C$71.00 and its 200 day moving average price is C$65.76.

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