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

ATCO Ltd. (TSE:ACO.X) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACO.X. Royal Bank Of Canada upped their price objective on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their price target on ATCO from C$72.00 to C$82.00 in a research report on Monday, April 20th. 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. Finally, National Bank Financial raised their price objective on ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$69.86.

ATCO Trading Up 1.8%

The firm’s 50 day simple moving average is C$70.74 and its 200-day simple moving average is C$65.49. The company has a market capitalization 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. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63.

ATCO (TSE:ACO.X) last posted its earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The business had revenue of C$1.43 billion for the quarter. As a group, equities research analysts anticipate that ATCO Ltd. will post 4.1980634 EPS for the current 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.