Atlas (NYSE:ATCO) Cut to Neutral at Credit Suisse Group

Atlas (NYSE:ATCOGet Rating) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Friday, FinViz reports.

Several other equities analysts have also recently issued reports on ATCO. Bank of America cut shares of Atlas from a “neutral” rating to an “underperform” rating and set a $14.50 price target for the company. in a research report on Thursday, February 17th. TheStreet cut shares of Atlas from a “b-” rating to a “c+” rating in a research report on Thursday, April 14th. Finally, Zacks Investment Research lowered shares of Atlas from a “hold” rating to a “strong sell” rating in a research note on Monday, May 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.38.

Shares of Atlas stock opened at $12.98 on Friday. The company has a 50 day moving average of $13.41 and a 200-day moving average of $14.07. Atlas has a 1-year low of $11.03 and a 1-year high of $16.49. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 0.99. The company has a market cap of $3.22 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10.

Atlas (NYSE:ATCOGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Atlas had a return on equity of 13.70% and a net margin of 28.08%. During the same quarter last year, the firm earned $0.31 EPS. Research analysts forecast that Atlas will post 1.58 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors lifted its stake in shares of Atlas by 27.2% in the first quarter. Capital Research Global Investors now owns 10,609,768 shares of the company’s stock valued at $155,751,000 after buying an additional 2,266,500 shares in the last quarter. Morgan Stanley raised its holdings in shares of Atlas by 15.8% in the second quarter. Morgan Stanley now owns 3,078,041 shares of the company’s stock valued at $43,862,000 after purchasing an additional 420,550 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Atlas by 21.6% in the first quarter. Bank of Montreal Can now owns 2,401,729 shares of the company’s stock valued at $37,324,000 after purchasing an additional 426,791 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Atlas by 10.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,381,927 shares of the company’s stock valued at $36,181,000 after purchasing an additional 220,800 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Atlas by 6.5% in the fourth quarter. BlackRock Inc. now owns 2,178,517 shares of the company’s stock valued at $30,891,000 after purchasing an additional 133,093 shares during the last quarter. 68.75% of the stock is currently owned by institutional investors and hedge funds.

About Atlas (Get Rating)

Atlas Corp. operates as an asset manager and operator of containerships. The company, through its subsidiaries, operates as an independent charter owner and manager of containerships. The company charters its containerships under long-term and fixed-rate time charters to various container liner companies.

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