ATCO (TSE:ACO.X) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• ATCO Ltd.'s stock price has surpassed its two hundred day moving average, indicating potential upward momentum, as shares traded as high as C$50.75 on Wednesday.
• Analysts have adjusted price targets for ATCO, with TD Securities reducing their target from C$56.00 to C$55.00 and Royal Bank of Canada raising their target from C$51.00 to C$53.00.
• Insider trading activity includes notable **sales by Senior Officer James Armstrong** and **Senior Officer Rebecca M. Kalmacoff**, indicating a significant reduction in their ownership of ATCO shares.

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$49.61 and traded as high as C$50.75. ATCO shares last traded at C$50.54, with a volume of 152,546 shares.

Analysts Set New Price Targets

Several research firms have weighed in on ACO.X. TD Securities cut their target price on shares of ATCO from C$56.00 to C$55.00 and set a "hold" rating on the stock in a report on Friday, August 1st. Royal Bank Of Canada upped their price objective on shares of ATCO from C$51.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th.

ATCO Stock Performance

The company has a market capitalization of C$5.04 billion, a P/E ratio of 14.78, a PEG ratio of 3.80 and a beta of 0.74. The stock's fifty day moving average price is C$50.91 and its 200-day moving average price is C$49.61. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insiders Place Their Bets

In other news, Senior Officer James Armstrong sold 781 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of C$51.40, for a total transaction of C$40,143.40. Following the transaction, the insider owned 101 shares in the company, valued at approximately C$5,191.40. This trade represents a 88.55% decrease in their ownership of the stock. Also, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of ATCO stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of C$51.40, for a total value of C$77,100.00. Insiders sold a total of 2,357 shares of company stock valued at $121,090 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

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.

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