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

Shares of ATCO Ltd. (TSE:ACO.X - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$49.29 and traded as high as C$50.91. ATCO shares last traded at C$50.91, with a volume of 257,970 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. CIBC increased their price target on shares of ATCO from C$59.00 to C$62.00 in a research report on Friday, April 4th. Royal Bank Of Canada increased their target price on shares of ATCO from C$51.00 to C$53.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Finally, TD Securities set a C$56.00 target price on shares of ATCO and gave the stock a "hold" rating in a research report on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, ATCO currently has a consensus rating of "Hold" and an average price target of C$53.25.

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 stock has a market capitalization of C$5.12 billion, a PE ratio of 15.02, a P/E/G ratio of 3.80 and a beta of 0.74. The firm's 50 day simple moving average is C$51.00 and its 200 day simple moving average is C$49.32.

Insider Activity at ATCO

In related news, Senior Officer James Armstrong sold 781 shares of ATCO stock in a transaction on Friday, May 9th. The shares were sold at an average price of C$51.40, for a total value of C$40,143.40. Following the sale, the insider owned 101 shares in the company, valued at C$5,191.40. The trade was a 88.55% decrease in their ownership of the stock. Also, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total transaction of C$77,100.00. Insiders have sold a total of 2,357 shares of company stock worth $121,090 over the last quarter. Corporate 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.