Stock traders buy large volume of Atlas call options (NYSE: ATCO)
Atlas Corp. (NYSE: ATCO) saw unusual options trading activity on Friday. Traders bought 37,008 call options on the stock. This is an increase of 3,060% over the typical daily volume of 1,171 call options.
A number of research analysts weighed in on the title. Zacks investment research downgraded Atlas shares from a “hold” rating to a “buy” rating and set a price target of $ 16.00 for the company in a research report released on Friday, October 22. Credit Suisse Group upgraded Atlas shares from a “neutral” to an “outperforming” rating in a research report published on Thursday (November 18th). Citigroup assumed coverage of Atlas stock in a research report on Wednesday, October 6. They set a “neutral” rating and a price target of $ 16.00 for the company. Finally, B. Riley raised his price target for the Atlas stock from $ 18.00 to $ 20.00 and assigned the stock a “buy” rating in a research report published on Wednesday, November 10. Two investment analysts gave the stock a conservation rating and three gave the company a buy rating. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $ 17.00.
Actions of NYSE: ATCO traded up $ 0.01 at midday on Friday, reaching $ 13.75. 439,951 shares of the company were traded, for an average volume of 683,004. The company has a debt to equity ratio of 1.16, a current ratio of 0.56, and a rapid ratio of 0.50. The company has a market cap of $ 3.41 billion, a price / earnings ratio of 22.13, a P / E / G ratio of 0.29, and a beta of 1.07. The company’s 50-day simple moving average is $ 14.11 and its 200-day simple moving average is $ 14.17. Atlas has a one-year low of $ 9.92 and a one-year high of $ 16.49.
Atlas (NYSE: ATCO) last released its results on Monday, November 8. The company reported earnings per share (EPS) of $ 0.56 for the quarter, beating the Zacks’ consensus estimate by $ 0.32 per $ 0.24. The company posted revenue of $ 451.90 million for the quarter, compared to analysts’ estimates of $ 409.15 million. Atlas had a net margin of 14.68% and a return on equity of 12.73%. The company’s quarterly revenue increased 17.0% year-over-year. During the same period of the previous year, the company made EPS of $ 0.27. On average, research analysts predict Atlas will post earnings per share of 1.73 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 1. Shareholders of record on Wednesday October 20 received a dividend of $ 0.125. The ex-dividend date of this dividend was Tuesday, October 19. This represents a dividend of $ 0.50 on an annualized basis and a dividend yield of 3.64%. Atlas’s payout rate is 80.65%.
Several institutional investors and hedge funds have recently changed their positions in the company. Toroso Investments LLC acquired a new stake in Atlas during the 3rd quarter valued at $ 504,000. UBS Group AG increased its stake in Atlas by 30.3% during the 3rd quarter. UBS Group AG now owns 26,321 shares of the company valued at $ 400,000 after acquiring an additional 6,127 shares in the last quarter. Millennium Management LLC increased its stake in Atlas by 98.3% during the 3rd quarter. Millennium Management LLC now owns 874,764 shares of the company valued at $ 13,288,000 after acquiring an additional 433,643 shares during the last quarter. Capital Research Global Investors increased its stake in Atlas by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 8,121,704 shares of the company valued at $ 123,369,000 after acquiring an additional 201,085 shares during the last quarter. Finally, Man Group plc increased its stake in Atlas by 54.6% during the 3rd quarter. Man Group plc now owns 28,300 shares of the company valued at $ 430,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds hold 88.70% of the company’s shares.
Atlas Company Profile
Atlas Corp. operates as a global asset manager that owns and operates the companies in which it invests. It focuses on deploying capital across multiple verticals to create growth opportunities for its shareholders. The company operates through two subsidiaries, Seaspan and APR. Seaspan is an independent owner and operator of container ships and APR provides mobile power solutions.
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