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

Shares of ATCO Ltd. (TSE:ACO.X) passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

ACO.X has been the topic of a number of analyst reports. CIBC increased their price objective on shares of ATCO from C$59.00 to C$62.00 in a report on Friday, April 4th. Scotiabank lifted their price target on ATCO from C$49.00 to C$51.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to 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 company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The company’s 50-day moving average price is C$48.25 and its two-hundred day moving average price is C$47.87. The company has a market cap 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.

Insider Buying and Selling

In other news, Senior Officer James Landon sold 1,000 shares of the firm’s 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. In the last 90 days, insiders sold 2,100 shares of company stock valued at $103,044. 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.