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

ATCO Ltd. (TSE:ACO.X)’s share 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 traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ACO.X. Scotiabank upped their price target on shares of ATCO from C$45.00 to C$49.00 in a research note on Friday, November 15th. BMO Capital Markets boosted their price objective on shares of ATCO from C$50.50 to C$52.50 in a research report on Thursday, September 5th. CIBC decreased their target price on shares of ATCO from C$59.00 to C$58.00 in a research report on Friday, November 15th. Finally, Royal Bank of Canada increased their price objective on shares of ATCO from C$50.00 to C$51.00 in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$51.10.

ATCO Stock Performance

The stock 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 quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company’s 50-day simple moving average is C$48.31 and its 200-day simple moving average is C$44.57.

Insider Buying and Selling at ATCO

In related news, insider Sentgraf Enterprises Ltd. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost of C$48.50 per share, for a total transaction of C$48,500.00. Insiders have bought a total of 13,400 shares of company stock valued at $657,350 in the last three months. 0.61% of the stock is currently owned by company insiders.

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.