ATCO (TSE:ACO.X) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• ATCO Ltd. shares surpassed their 200-day moving average during trading, reaching a high of C$51.72 and last trading at C$50.95.
• Brokerages are showing mixed sentiment, with TD Securities reducing its price target to C$55.00 while Royal Bank of Canada increased it to C$53.00, leading to an average consensus target price of C$54.70.
• Insider transactions noted include Senior Officer Rebecca M. Kalmacoff selling 1,500 shares at C$51.40, while Sentgraf Enterprises Ltd. purchased 7,407 shares at C$50.55.

ATCO Ltd. (TSE:ACO.X - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$49.96 and traded as high as C$51.72. ATCO shares last traded at C$50.95, with a volume of 234,348 shares.

Analyst Ratings Changes

ACO.X has been the topic of several research analyst reports. 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 research note on Friday, August 1st. Royal Bank Of Canada raised 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 note on Thursday, May 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$54.70.

ATCO Price Performance

The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The business's 50-day moving average is C$50.77 and its two-hundred day moving average is C$50.02. The company has a market capitalization of C$4.99 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74.

Insider Transactions at ATCO

In related news, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total transaction of C$77,100.00. Also, insider Sentgraf Enterprises Ltd. acquired 7,407 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were bought at an average price of C$50.55 per share, with a total value of C$374,423.85. 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.