Atlas Copco AB (OTCMKTS:ATLKY) Sees Large Drop in Short Interest

Atlas Copco AB (OTCMKTS:ATLKY) saw a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 13,293 shares, a drop of 76.8% from the October 15th total of 57,390 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 809,687 shares, the days-to-cover ratio is presently 0.0 days.

Atlas Copco Stock Performance

Shares of OTCMKTS ATLKY opened at $19.14 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.27 and a quick ratio of 0.87. The firm has a market cap of $93.22 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 1.50 and a beta of 1.41. The stock’s fifty day moving average price is $20.07 and its two-hundred day moving average price is $20.04. Atlas Copco has a one year low of $15.69 and a one year high of $22.42.

Atlas Copco (OTCMKTS:ATLKY) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.79 billion. Atlas Copco had a return on equity of 24.52% and a net margin of 15.69%. On average, equities analysts forecast that Atlas Copco will post 0.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on ATLKY. Morgan Stanley reiterated an “overweight” rating on shares of Atlas Copco in a research note on Tuesday, September 1st. The Goldman Sachs Group upgraded shares of Atlas Copco from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada restated an “underperform” rating on shares of Atlas Copco in a research report on Wednesday, August 5th. Finally, Citigroup restated a “buy” rating on shares of Atlas Copco in a report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About Atlas Copco

Atlas Copco is a Swedish industrial company that develops and manufactures equipment and services for businesses across a range of industries. Its products include air and gas compressors, vacuum systems, industrial tools and assembly solutions, pumps, and power equipment. The company organizes its operations around compressor, vacuum, industrial, and power technologies. It also provides related services such as equipment maintenance and support. Atlas Copco serves customers in markets around the world.