ATCO (TSE:ACO.X) Shares Cross Above 50 Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X)’s share price crossed 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on ACO.X. Scotia lifted their price objective on shares of ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their target price 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 raised 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 report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATCO currently has an average rating of “Hold” and an average price target of C$69.86.

ATCO Price Performance

The business has a fifty day moving average of C$70.74 and a 200 day moving average of C$65.49. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The stock has a market cap of C$7.52 billion, a PE ratio of 53.58, a P/E/G ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) for the quarter. The company had revenue of C$1.43 billion for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. Sell-side analysts anticipate 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.