ATCO (TSE:ACO.X) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of ATCO Ltd. (TSE:ACO.X) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$46.79 and traded as high as C$48.06. ATCO shares last traded at C$47.95, with a volume of 135,583 shares.

Analyst Ratings Changes

ACO.X has been the topic of a number of research analyst reports. CIBC cut their price objective on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Scotiabank raised their price objective on shares of ATCO from C$49.00 to C$51.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada raised their target price on shares of ATCO from C$50.00 to C$51.00 in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$51.50.

ATCO Trading Up 0.9 %

The business’s 50-day moving average is C$47.05 and its two-hundred day moving average is C$46.87. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The stock has a market capitalization of C$4.82 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74.

Insider Activity at ATCO

In related news, insider Sentgraf Enterprises Ltd. bought 5,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were bought at an average cost of C$49.25 per share, for a total transaction of C$246,250.00. Also, Director Dawn Lorraine Farrell bought 10,550 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were bought at an average price of C$47.36 per share, for a total transaction of C$499,689.15. Insiders have bought a total of 22,950 shares of company stock worth $1,108,539 in the last three months. Insiders own 0.61% of the company’s stock.

About ATCO

Atco Ltd is a Canadian holding company that offers gas, electric, and infrastructure solutions. The largest subsidiary of the company is Canadian utilities, which operates natural gas, electricity, and logistical services. Atco’s primary segments include Structures and Logistics; Utilities; Energy Infrastructure; Neltume Ports and Corporate and Other.