ATCO (TSE:ACO.X) Stock Passes Above 200-Day Moving Average – Here’s What Happened

ATCO Ltd. (TSE:ACO.X)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$47.44 and traded as high as C$49.08. ATCO shares last traded at C$48.22, with a volume of 995,219 shares traded.

Wall Street Analyst Weigh In

ACO.X has been the subject of several research analyst reports. CIBC raised their price target on ATCO from C$58.00 to C$59.00 in a report on Friday, February 28th. Scotiabank raised their target price on shares of ATCO from C$49.00 to C$51.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ATCO currently has a consensus rating of “Hold” and a consensus target price of C$51.70.

ATCO Trading Down 1.9 %

The company has a 50-day moving average of C$47.33 and a 200 day moving average of C$47.46. 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 company has a market cap of C$4.81 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74.

Insider Transactions at ATCO

In other news, Director Dawn Lorraine Farrell purchased 10,550 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were bought at an average cost of C$47.36 per share, for a total transaction of C$499,689.15. 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.