Market Analysts see Atlas Corp. [ATCO] falling to $14.45. Time to buy?

Atlas Corp. [NYSE: ATCO] loss -1.42% on the last trading session, reaching $13.90 price per share at the time. The company report on September 28, 2022 that Atlas Corp. Special Committee Confirms Receipt of Revised Proposal from Poseidon Acquisition Corp.

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Atlas Corp. (“Atlas” or the “Company”) (NYSE: ATCO) today confirmed receipt of a revised, non-binding proposal from Poseidon Acquisition Corp. (“Poseidon”), an entity formed by certain affiliates of Fairfax Financial Holdings Limited (“Fairfax”), certain affiliates of the Washington Family (“Washington”), David Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd., and certain of their respective affiliates (the “Consortium”), to acquire all of the outstanding common shares of Atlas, other than common shares owned by Fairfax, Washington, and Mr. Sokol, for $15.50 cash per common share.

The Company notes that the special committee of independent directors of the Atlas Board and its advisors reviewed, evaluated and engaged directly with the Consortium members and their advisors regarding Poseidon’s unsolicited proposal dated August 4, 2022, including with respect to the factors referenced in the Consortium’s letter received September 26, 2022, and other factors the special committee considered important, such as the substantial, long-term contracted cash flow of the Company’s charter operations. The special committee consistently advised the Consortium that it was not prepared to recommend the $14.45 per share proposal to shareholders as it did not reflect the standalone value of the Company. Following receipt of the Consortium’s revised proposal, the special committee informed the Consortium that, working with its advisors, it is evaluating the revised offer.

Atlas Corp. represents 270.87 million in outstanding shares, while the company has a total market value of $4.06 billion with the latest information. ATCO stock price has been found in the range of $13.69 to $14.17.

If compared to the average trading volume of 1.19M shares, ATCO reached a trading volume of 3036747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Atlas Corp. [ATCO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATCO shares is $16.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATCO stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Atlas Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on August 11, 2022. The new note on the price target was released on May 27, 2022, representing the official price target for Atlas Corp. stock. Previously, the target price had yet another raise to $14.50, while BofA Securities analysts kept a Underperform rating on ATCO stock.

The Average True Range (ATR) for Atlas Corp. is set at 0.30, with the Price to Sales ratio for ATCO stock in the period of the last 12 months amounting to 2.39. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 1.44.

Trading performance analysis for ATCO stock

Atlas Corp. [ATCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.07. With this latest performance, ATCO shares dropped by -2.46% in over the last four-week period, additionally sinking by -10.55% over the last 6 months – not to mention a drop of -8.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATCO stock in for the last two-week period is set at 46.08, with the RSI for the last a single of trading hit 41.06, and the three-weeks RSI is set at 50.34 for Atlas Corp. [ATCO]. The present Moving Average for the last 50 days of trading for this stock 13.64, while it was recorded at 13.89 for the last single week of trading, and 13.49 for the last 200 days.

Atlas Corp. [ATCO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Atlas Corp. [ATCO] shares currently have an operating margin of +42.73 and a Gross Margin at +57.11. Atlas Corp.’s Net Margin is presently recorded at +24.32.

Return on Equity for this stock inclined to 10.77, with Return on Assets sitting at 4.03.

Atlas Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Atlas Corp. [ATCO]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Atlas Corp. go to 21.00%.

An analysis of insider ownership at Atlas Corp. [ATCO]

There are presently around $2,302 million, or 59.10% of ATCO stock, in the hands of institutional investors. The top three institutional holders of ATCO stocks are: FAIRFAX FINANCIAL HOLDINGS LTD/ CAN with ownership of 125,081,134, which is approximately 25.034% of the company’s market cap and around 12.69% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 11,528,289 shares of the stock with an approximate value of $160.24 million in ATCO stocks shares; and MORGAN STANLEY, currently with $39.34 million in ATCO stock with ownership of nearly -10.112% of the company’s market capitalization.

Positions in Atlas Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 69 institutional holders increased their position in Atlas Corp. [NYSE:ATCO] by around 29,435,323 shares. Additionally, 71 investors decreased positions by around 3,792,460 shares, while 40 investors held positions by with 132,352,561 shares. The mentioned changes placed institutional holdings at 165,580,344 shares, according to the latest SEC report filing. ATCO stock had 20 new institutional investments in for a total of 895,822 shares, while 27 institutional investors sold positions of 1,553,674 shares during the same period.


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