ATCO (TSE:ACO.X) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$45.35 and traded as high as C$46.36. ATCO shares last traded at C$45.79, with a volume of 274,100 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACO.X. Royal Bank of Canada upped their price target on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. CIBC cut their target price on shares of ATCO from C$59.00 to C$58.00 in a research report on Friday, November 15th. Finally, Scotiabank lifted their price target on shares of ATCO from C$45.00 to C$49.00 in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$51.10.

ATCO Stock Down 1.1 %

The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The stock has a market cap of C$4.57 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The firm has a 50 day simple moving average of C$47.94 and a two-hundred day simple moving average of C$45.35.

Insider Activity at ATCO

In other ATCO news, insider Sentgraf Enterprises Ltd. bought 7,400 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of C$49.00 per share, with a total value of C$362,600.00. Also, Director Dawn Lorraine Farrell purchased 10,550 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was bought at an average cost of C$47.36 per share, for a total transaction of C$499,689.15. Insiders have bought 22,950 shares of company stock worth $1,108,539 in the last ninety days. Company 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.