ATCO (TSE:ACO.X) Shares Cross Above 200 Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$41.09 and traded as high as C$48.00. ATCO shares last traded at C$47.90, with a volume of 184,993 shares.

Wall Street Analysts Forecast Growth

ACO.X has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of ATCO from C$47.00 to C$50.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 3rd. Scotiabank upped their price objective on shares of ATCO from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their target price on shares of ATCO from C$50.50 to C$52.50 in a research report on Thursday, September 5th. CIBC increased their price target on shares of ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Finally, National Bankshares boosted their price target on shares of ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$48.58.

ATCO Price Performance

The company has a market capitalization of C$4.78 billion, a PE ratio of 14.01, a PEG 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. The company’s 50 day moving average price is C$45.23 and its 200-day moving average price is C$41.09.

Insider Activity

In other ATCO news, insider Sentgraf Enterprises Ltd. bought 10,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average cost of C$47.50 per share, with a total value of C$475,000.00. In related news, Senior Officer James Landon sold 1,300 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total value of C$56,628.00. Also, insider Sentgraf Enterprises Ltd. acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were bought at an average price of C$47.50 per share, for a total transaction of C$475,000.00. Insiders have bought 12,000 shares of company stock worth $569,150 over the last 90 days. Company insiders own 0.61% of the company’s stock.

ATCO Company Profile

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.