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

ATCO Ltd. (TSE:ACO.X) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$46.79 and traded as high as C$48.06. ATCO shares last traded at C$47.95, with a volume of 135,583 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ACO.X shares. CIBC lowered their price target on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Scotiabank raised their price target 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. Finally, Royal Bank of Canada raised their price target on shares of ATCO from C$50.00 to C$51.00 in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$51.50.

ATCO Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a market capitalization of C$4.82 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The firm’s fifty day moving average price is C$47.05 and its two-hundred day moving average price is C$46.87.

Insider Activity at ATCO

In other ATCO news, Director Dawn Lorraine Farrell acquired 10,550 shares of the stock in a transaction dated 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. Also, insider Sentgraf Enterprises Ltd. acquired 5,000 shares of the stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of C$49.25 per share, with a total value of C$246,250.00. Over the last quarter, insiders bought 22,950 shares of company stock valued at $1,108,539. 0.61% of the stock is owned by company insiders.

ATCO Company Profile

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.