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

ATCO Ltd. (TSE:ACO.X)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$56.47 and traded as high as C$66.45. ATCO shares last traded at C$65.93, with a volume of 266,717 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. TD Securities boosted their target price on ATCO from C$57.00 to C$67.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. BMO Capital Markets raised their price target on ATCO from C$63.00 to C$69.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce lifted their price target on ATCO from C$68.00 to C$69.00 in a research note on Wednesday, January 21st. National Bank Financial boosted their price objective on ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Scotiabank increased their price objective on ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ATCO has a consensus rating of “Hold” and a consensus price target of C$64.33.

ATCO Trading Up 1.2%

The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The firm has a market capitalization of C$6.65 billion, a PE ratio of 49.57, a P/E/G ratio of 3.80 and a beta of 0.55. The stock’s 50-day simple moving average is C$62.37 and its 200-day simple moving average is C$56.47.

ATCO (TSE:ACO.X) last posted its earnings results on Thursday, February 26th. The company reported C$1.37 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, sell-side analysts expect that ATCO Ltd. will post 4.1980634 EPS for the current fiscal year.

About ATCO

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.