ATCO (TSE:ACO.X) Shares Pass Above 200 Day Moving Average – Here’s What Happened

ATCO Ltd. (TSE:ACO.X) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$44.95 and traded as high as C$47.80. ATCO shares last traded at C$47.09, with a volume of 121,206 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ACO.X shares. Scotiabank increased their price objective on shares of ATCO from C$45.00 to C$49.00 in a research report on Friday, November 15th. CIBC lowered their price target on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada boosted their price objective on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$51.10.

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 stock has a market capitalization of C$4.73 billion, a PE ratio of 13.86, a PEG ratio of 3.80 and a beta of 0.74. The business’s 50 day moving average is C$48.15 and its 200 day moving average is C$45.00.

Insider Activity

In related news, insider Sentgraf Enterprises Ltd. bought 5,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were acquired at an average cost of C$49.25 per share, for a total transaction of C$246,250.00. Insiders own 0.61% of the company’s stock.

ATCO Company Profile

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.