Atlas (NYSE:ATCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.
According to Zacks, “Atlas Corp. is an asset manager which owns and operates the businesses in which it invests. The company’s wholly-owned subsidiaries include Seaspan and APR. Seaspan is containership owner/operator while APR is in mobile power solutions as a lessor and operator. Atlas Corp., formerly known as Seaspan Corporation, is based in HONG KONG, China. “
Several other research analysts have also recently issued reports on the stock. TheStreet cut shares of Atlas from a “b-” rating to a “c” rating in a report on Thursday, April 8th. Jefferies Financial Group raised their target price on shares of Atlas from $13.50 to $16.00 and gave the stock a “hold” rating in a report on Tuesday. Citigroup raised their target price on shares of Atlas from $11.00 to $15.00 in a report on Wednesday, March 10th. Finally, B. Riley raised their target price on shares of Atlas from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, March 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Atlas presently has an average rating of “Hold” and an average target price of $17.75.
Shares of NYSE:ATCO traded up $0.11 during trading hours on Friday, hitting $14.16. The stock had a trading volume of 335,432 shares, compared to its average volume of 734,151. The stock’s fifty day simple moving average is $14.08 and its 200 day simple moving average is $12.29. Atlas has a 1-year low of $6.00 and a 1-year high of $14.83. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.55 and a current ratio of 0.64.
Atlas (NYSE:ATCO) last announced its quarterly earnings results on Sunday, May 2nd. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). Atlas had a net margin of 21.49% and a return on equity of 9.14%. The firm had revenue of $372.60 million during the quarter, compared to analyst estimates of $381.22 million. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts anticipate that Atlas will post 1.08 EPS for the current year.
A number of institutional investors have recently bought and sold shares of ATCO. The PNC Financial Services Group Inc. acquired a new position in Atlas in the 1st quarter worth approximately $28,000. Credit Agricole S A purchased a new stake in Atlas in the 4th quarter worth approximately $60,000. Public Employees Retirement Association of Colorado purchased a new stake in Atlas in the 4th quarter worth approximately $68,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Atlas in the 4th quarter worth approximately $88,000. Finally, EP Wealth Advisors LLC purchased a new stake in Atlas in the 4th quarter worth approximately $118,000. 52.06% of the stock is owned by hedge funds and other institutional investors.
Atlas Company Profile
Atlas Corp., through its subsidiaries, operates as an independent charter owner and manager of containerships. The company operates in two segments, Containership Leasing and Mobile Power Generation. It charters its containerships under long-term and fixed-rate time charters. As of March 1, 2021, the company operated a fleet of 127 containerships; a fleet of 30 gas turbines and 439 diesel generators.
Read More: What is a put option?
Get a free copy of the Zacks research report on Atlas (ATCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Equal Weight Rating
7 Cryptocurrencies That Are Leading The Market Higher
An Influx Of Capital Is Driving Cryptocurrency Higher
There is an influx of money to the cryptocurrency market that is driving the entire complex higher. Not only is institutional interest peaking but recognition and use are on the rise as well. With Bitcoin setting new all-time highs 100% above the 2017 highs the number of new Bitcoin millionaires is on the rise too.
But Bitcoin is not the only cryptocurrency on the market today by far. The number of cryptocurrencies on the market has been growing steadily with more than 4,000 listed on Coinmarketcap alone. But that doesn’t mean they are all worth your time. Many if not most will not stand the test of time.
One way to judge the market’s interest in a cryptocurrency is its market performance gains. A cryptocurrency that is gaining in value is certainly one that you may want to own. The better method of judging the market’s interest in a cryptocurrency is the market cap. The cryptocurrency market is worth upwards of $1 trillion and growing, and most of that value is centered in the top seven. Together, the bottom 3,993 odd cryptocurrencies only account for 12% of the market and have yet to prove any lasting value.
View the “7 Cryptocurrencies That Are Leading The Market Higher”.