ATCO (TSE:ACO.X) Share Price Passes Above 200 Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$47.87 and traded as high as C$48.69. ATCO shares last traded at C$48.57, with a volume of 133,467 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACO.X shares. CIBC increased their price target on ATCO from C$59.00 to C$62.00 in a research note on Friday, April 4th. Scotiabank increased 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$52.30.

ATCO Stock Performance

The business has a 50 day moving average of C$48.25 and a 200-day moving average of C$47.87. The company has a market capitalization of C$4.84 billion, a P/E ratio of 14.20, a price-to-earnings-growth 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

In related news, Senior Officer James Landon sold 1,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of C$49.80, for a total value of C$49,800.00. Insiders have sold a total of 2,100 shares of company stock worth $103,044 over the last ninety days. 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.