ATCO (TSE:ACO.X) Stock Passes Above 200 Day Moving Average – Time to Sell?

ATCO Ltd. (TSE:ACO.XGet Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$67.88 and traded as high as C$78.97. ATCO shares last traded at C$78.31, with a volume of 265,368 shares.

Key Headlines Impacting ATCO

Here are the key news stories impacting ATCO this week:

  • Positive Sentiment: CIBC raised its price target on ATCO Ltd. (ACO.X) to C$88 from C$85, implying approximately 8.1% upside, supporting its constructive outlook. BayStreet.CA Tickerreport.com
  • Positive Sentiment: BMO Capital Markets increased its target to C$85 from C$72 and upgraded its view to “outperform,” indicating about 4.4% potential upside. BayStreet.CA
  • Neutral Sentiment: Royal Bank of Canada raised its target to C$80 from C$71 but maintained a “sector perform” rating, suggesting little upside from recent levels. BayStreet.CA
  • Negative Sentiment: National Bank Financial lifted its target to C$79 from C$69 while retaining a “sector perform” rating. The new target implies roughly 1.2% downside, potentially limiting enthusiasm after ATCO’s strong rally. BayStreet.CA

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank Of Canada upped their target price on shares of ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Thursday. Canadian Imperial Bank of Commerce lifted their price target on shares of ATCO from C$85.00 to C$88.00 in a research report on Thursday. Scotia boosted their price objective on shares of 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. Scotiabank upped their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Finally, National Bank Financial raised their target price on shares of ATCO from C$69.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$78.29.

View Our Latest Stock Report on ACO.X

ATCO Stock Performance

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 business has a 50 day moving average price of C$73.69 and a 200 day moving average price of C$68.06. The stock has a market capitalization of C$8.06 billion, a PE ratio of 57.42, a PEG ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.XGet Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. As a group, equities research analysts expect that ATCO Ltd. will post 4.1980634 earnings per share for the current year.

ATCO Company Profile

(Get Free Report)

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.

Further Reading

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