ATCO (TSE:ACO.X) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• ATCO Ltd. shares have risen above their 200-day moving average, currently trading at C$50.29 after reaching a high of C$50.61.
• Research firms have mixed views on ATCO, with TD Securities reducing their price target to C$55.00 while Royal Bank of Canada increased it to C$53.00; the average target sits at C$54.70.
• Insider activity includes a sale of 1,500 shares by Senior Officer Rebecca M. Kalmacoff, while Sentgraf Enterprises Ltd. purchased 7,407 shares, highlighting active management engagement in the stock.

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$50.12 and traded as high as C$50.61. ATCO shares last traded at C$50.29, with a volume of 153,733 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Securities dropped their price target on shares of ATCO from C$56.00 to C$55.00 and set a "hold" rating on the stock in a research note on Friday, August 1st. Royal Bank Of Canada lifted their target price 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. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$54.70.

ATCO Price Performance

The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The company's 50 day simple moving average is C$50.62 and its 200 day simple moving average is C$50.11. The company has a market capitalization of C$5.53 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.80 and a beta of 0.47.

Insider Buying and Selling at ATCO

In other news, insider Sentgraf Enterprises Ltd. bought 7,407 shares of the business's stock in a transaction dated Monday, June 9th. The shares were acquired at an average price of C$50.55 per share, for a total transaction of C$374,423.85. Also, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total value of C$77,100.00. 0.61% of the stock is owned by company insiders.

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.