ATCO (TSE:ACO.X) Stock Crosses Above 200-Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$45.97 and traded as high as C$46.66. ATCO shares last traded at C$46.39, with a volume of 147,551 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACO.X. CIBC reduced their target price on ATCO from C$59.00 to C$58.00 in a research report on Friday, November 15th. Scotiabank upped their price objective on shares of ATCO from C$45.00 to C$49.00 in a 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, ATCO presently has a consensus rating of “Hold” and an average target price of C$51.10.

ATCO Stock Up 1.4 %

The stock has a market cap of C$4.63 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The business has a 50-day moving average price of C$47.69 and a 200-day moving average price of C$45.97. 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 Transactions at ATCO

In other news, insider Sentgraf Enterprises Ltd. bought 5,000 shares of ATCO stock in a transaction on Monday, December 9th. The shares were bought at an average cost of C$49.25 per share, with a total value of C$246,250.00. Also, Director Dawn Lorraine Farrell bought 10,550 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was purchased at an average price of C$47.36 per share, for a total transaction of C$499,689.15. Insiders have bought 22,950 shares of company stock valued at $1,108,539 over the last ninety days. 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.