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

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$70.87 and traded as high as C$74.45. ATCO shares last traded at C$73.31, with a volume of 230,276 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACO.X. Canadian Imperial Bank of Commerce lifted their price target on shares of ATCO from C$85.00 to C$88.00 in a research note on Thursday, July 30th. BMO Capital Markets raised their target price on shares of ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Royal Bank Of Canada lifted their target price on shares of ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Scotiabank boosted their target price on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, National Bank Financial increased their price target on ATCO from C$69.00 to C$79.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, ATCO presently has a consensus rating of “Hold” and a consensus target price of C$78.29.

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 company has a market cap of C$8.08 billion, a P/E ratio of 44.90, a PEG ratio of 3.80 and a beta of 0.37. The business’s 50 day simple moving average is C$76.11 and its 200 day simple moving average is C$70.95.

ATCO (TSE:ACO.X) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. Sell-side analysts predict that ATCO Ltd. will post 4.1980634 earnings per share 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.