Atlas Corp. [ATCO] moved down -0.06: Why It’s Important

Atlas Corp. [NYSE: ATCO] stock went on a downward path that fall over -0.06% on Wednesday, amounting to a one-week price increase of more than 0.20%. The company report on February 24, 2023 that Atlas Shareholders Approve Merger with Poseidon Acquisition Corp.

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Atlas Corp. (“Atlas” or the “Company”) (NYSE: ATCO) today announced that, at its annual meeting of shareholders held today, February 24, 2023 (the “Annual Meeting”), its shareholders approved by the required votes the proposal to adopt and approve the Agreement and Plan of Merger (the “Merger Agreement”) by and among Atlas, Poseidon Acquisition Corp. (“Poseidon”) and Poseidon Merger Sub, Inc. and the transactions contemplated by the Merger Agreement, including the merger with Poseidon (the “Merger Proposal”).

In accordance with  the requirements of the Merger Agreement, the Merger Proposal was adopted and approved at the Annual Meeting by the affirmative vote of both (1) the holders of a majority of the issued and outstanding Atlas common shares and (2) the holders of a majority of the issued and outstanding Atlas common shares beneficially owned by the Unaffiliated Shareholders (as defined in the Merger Agreement). The Company continues to expect that the merger will be completed in the first half of 2023, and based upon the current status of regulatory approvals, consents and other customary closing conditions the merger could close as early as March 31, 2023, subject to based upon the current status of all required conditions. In the merger, holders of the Company’s common shares will receive $15.50 in cash in exchange for each common share they own.

Over the last 12 months, ATCO stock rose by 9.76%. The one-year Atlas Corp. stock forecast points to a potential upside of 8.77. The average equity rating for ATCO stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.33 billion, with 275.19 million shares outstanding and 209.98 million shares in the current float. Compared to the average trading volume of 2.33M shares, ATCO stock reached a trading volume of 3334517 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $16.88 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 2.50. 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 0.07, with the Price to Sales ratio for ATCO stock in the period of the last 12 months amounting to 2.55. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 2.19.

ATCO Stock Performance Analysis:

Atlas Corp. [ATCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.20. With this latest performance, ATCO shares gained by 0.79% in over the last four-week period, additionally plugging by 5.70% over the last 6 months – not to mention a rise of 9.76% 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 59.94, with the RSI for the last a single of trading hit 61.23, and the three-weeks RSI is set at 58.40 for Atlas Corp. [ATCO]. The present Moving Average for the last 50 days of trading for this stock 15.26, while it was recorded at 15.39 for the last single week of trading, and 14.04 for the last 200 days.

Insight into Atlas Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Atlas Corp. [ATCO] shares currently have an operating margin of +43.23 and a Gross Margin at +56.85. Atlas Corp.’s Net Margin is presently recorded at +36.66.

Return on Equity for this stock inclined to 15.10, with Return on Assets sitting at 5.69.

Atlas Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.


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%.

Atlas Corp. [ATCO] Insider Position Details

There are presently around $2,784 million, or 60.70% 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 0% of the company’s market cap and around 25.34% of the total institutional ownership; TIG ADVISORS, LLC, holding 6,890,972 shares of the stock with an approximate value of $106.12 million in ATCO stocks shares; and FIL LTD, currently with $57.25 million in ATCO stock with ownership of nearly New of the company’s market capitalization.

Positions in Atlas Corp. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 101 institutional holders increased their position in Atlas Corp. [NYSE:ATCO] by around 28,944,406 shares. Additionally, 98 investors decreased positions by around 18,079,959 shares, while 40 investors held positions by with 133,772,900 shares. The mentioned changes placed institutional holdings at 180,797,265 shares, according to the latest SEC report filing. ATCO stock had 51 new institutional investments in for a total of 13,849,623 shares, while 52 institutional investors sold positions of 11,319,404 shares during the same period.


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