ATCO (TSE:ACO.X) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

ATCO Ltd. (TSE:ACO.X) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

ACO.X has been the topic of several recent research reports. CIBC decreased their price objective on ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Royal Bank of Canada upped their price target on shares of ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. Finally, Scotiabank lifted their price objective on shares of ATCO from C$45.00 to C$49.00 in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, ATCO presently has an average rating of “Hold” and an average target price of C$51.10.

ATCO Stock Performance

The business has a 50-day moving average price of C$47.59 and a 200-day moving average price of C$46.07. The firm has a market capitalization of C$4.61 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 3.80 and a beta of 0.74. 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 ATCO news, Director Dawn Lorraine Farrell purchased 10,550 shares of ATCO stock in a transaction on Friday, January 3rd. The stock was bought at an average cost of C$47.36 per share, with a total value of C$499,689.15. Also, insider Sentgraf Enterprises Ltd. acquired 7,400 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of C$49.00 per share, for a total transaction of C$362,600.00. Over the last ninety days, insiders purchased 22,950 shares of company stock worth $1,108,539. Company insiders own 0.61% of the company’s stock.

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.