ATCO (TSE:ACO.X) Shares Cross Above 200 Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$48.04 and traded as high as C$50.48. ATCO shares last traded at C$50.14, with a volume of 74,696 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. CIBC lifted their target price on shares of ATCO from C$59.00 to C$62.00 in a research report on Friday, April 4th. Scotiabank upped their target price on shares of 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$52.30.

ATCO Price Performance

The stock has a market capitalization of C$5.00 billion, a PE ratio of 14.66, a P/E/G ratio of 3.80 and a beta of 0.74. 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 firm’s 50 day simple moving average is C$48.58 and its 200 day simple moving average is C$48.04.

Insider Activity at ATCO

In other news, Senior Officer James Landon sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of C$49.80, for a total transaction of C$49,800.00. In the last 90 days, insiders have sold 2,100 shares of company stock valued at $103,044. 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.