ATCO (TSE:ACO.X) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

ATCO Ltd. (TSE:ACO.X)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$44.57 and traded as high as C$47.54. ATCO shares last traded at C$47.42, with a volume of 75,693 shares changing hands.

Wall Street Analyst Weigh In

ACO.X has been the topic of several research reports. CIBC lowered their price target on ATCO from C$59.00 to C$58.00 in a research note on Friday, November 15th. Royal Bank of Canada upped their target price on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. BMO Capital Markets lifted their price target on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Finally, Scotiabank increased their price objective on shares of ATCO from C$45.00 to C$49.00 in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, ATCO currently has an average rating of “Hold” and a consensus price target of C$51.10.

ATCO Trading Up 1.1 %

The company has a 50 day moving average of C$48.31 and a 200 day moving average of C$44.57. The firm has a market cap of C$4.73 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

Insider Activity

In other ATCO news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of ATCO stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of C$48.50 per share, with a total value of C$48,500.00. In the last quarter, insiders have bought 13,400 shares of company stock worth $657,350. Corporate insiders own 0.61% of the company’s stock.

About ATCO

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.