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

Shares of ATCO Ltd. (TSE:ACO.X) 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACO.X shares. BMO Capital Markets upped their price target on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Scotia upped their price target on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. TD Securities upped their price target on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Finally, National Bank Financial upped their price target on ATCO from C$57.00 to C$62.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$68.86.

ATCO Stock Performance

The stock has a market capitalization of C$7.11 billion, a PE ratio of 50.69, a PEG ratio of 3.80 and a beta of 0.46. The business has a 50 day moving average price of C$68.45 and a 200 day moving average price of C$61.89. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

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