Atlas Copco (OTCMKTS:ATLKY) Reaches New 12-Month High – Here’s Why

Atlas Copco AB (OTCMKTS:ATLKY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $22.06 and last traded at $21.9050, with a volume of 134981 shares trading hands. The stock had previously closed at $21.3850.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. 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. Citigroup reissued a “buy” rating on shares of Atlas Copco in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Atlas Copco in a report on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating on shares of Atlas Copco in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reissued an “underperform” rating on shares of Atlas Copco in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Atlas Copco Stock Down 0.3%

The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $20.06 and a 200 day simple moving average of $19.84. The stock has a market cap of $107.79 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.00 and a beta of 1.41.

Atlas Copco (OTCMKTS:ATLKY) last posted its earnings results on Thursday, July 16th. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.61 billion. Atlas Copco had a return on equity of 24.10% and a net margin of 15.66%. As a group, analysts expect that Atlas Copco AB will post 0.66 earnings per share for the current fiscal year.

About Atlas Copco

Atlas Copco is a Sweden-based industrial group that develops, manufactures and services equipment and solutions for professional customers in a broad range of industries. The company’s core activities center on compressed air and gas systems, vacuum solutions, construction and mining equipment, industrial tools and assembly systems, and power and flow equipment. Products and services span new-equipment sales, aftermarket parts, maintenance and technical support aimed at improving productivity, energy efficiency and safety for industrial operations.

Key product categories include stationary and portable air compressors, air treatment and gas generation systems, industrial vacuum pumps, generators and light towers, drilling rigs and rock excavation equipment for mining and construction, as well as electric and pneumatic tools and automated assembly systems for manufacturing.