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

ATCO Ltd. (TSE:ACO.X)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$42.46 and traded as high as C$47.83. ATCO shares last traded at C$47.70, with a volume of 83,863 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. National Bankshares increased their price target on ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Royal Bank of Canada lifted their target price on shares of ATCO from C$47.00 to C$50.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 3rd. CIBC upped their price target on shares of ATCO from C$49.00 to C$51.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. BMO Capital Markets lifted their price objective on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Finally, Scotiabank upped their target price on ATCO from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$48.70.

ATCO Stock Performance

The firm’s 50 day simple moving average is C$46.91 and its 200 day simple moving average is C$42.50. The firm has a market capitalization of C$4.76 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 3.80 and a beta of 0.74. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insider Activity at ATCO

In related news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of C$48.50 per share, for a total transaction of C$48,500.00. Insiders acquired 12,000 shares of company stock worth $569,150 over the last three months. Company insiders own 0.61% of the company’s stock.

About ATCO

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.