ATCO (TSE:ACO.X) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$47.23 and traded as high as C$47.72. ATCO shares last traded at C$47.23, with a volume of 343,042 shares traded.

Analyst Upgrades and Downgrades

ACO.X has been the topic of several analyst reports. Scotiabank increased their target price on ATCO from C$49.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. CIBC increased their target price on ATCO from C$58.00 to C$59.00 in a research report on Friday, February 28th. Finally, Royal Bank of Canada increased their target price on 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 data from MarketBeat.com, ATCO presently has an average rating of “Hold” and an average target price of C$51.70.

ATCO Stock Performance

The company has a market cap of C$4.71 billion, a P/E ratio of 13.81, a PEG ratio of 3.80 and a beta of 0.74. The company has a 50 day moving average price of C$47.16 and a 200-day moving average price of C$47.23. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63.

Insider Transactions at ATCO

In other news, Director Dawn Lorraine Farrell bought 10,550 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was acquired at an average price of C$47.36 per share, with a total value 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.