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

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$49.45 and traded as high as C$51.83. ATCO shares last traded at C$51.63, with a volume of 246,635 shares changing hands.

Analyst Upgrades and Downgrades

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

ATCO Stock 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 50 day simple moving average of C$51.04 and a two-hundred day simple moving average of C$49.45. The company has a market cap of C$5.21 billion, a PE ratio of 15.27, a PEG ratio of 3.80 and a beta of 0.74.

Insider Buying and Selling

In other ATCO news, Senior Officer James Armstrong sold 781 shares of the company's stock in a transaction on Friday, May 9th. The stock was 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 of the company's stock, valued at approximately C$5,191.40. This represents a 88.55% decrease in their ownership of the stock. Also, insider Sentgraf Enterprises Ltd. bought 7,407 shares of the stock in a transaction on Monday, June 9th. The stock was purchased at an average cost of C$50.55 per share, for a total transaction of C$374,423.85. Insiders have sold 2,357 shares of company stock valued at $121,090 over the last quarter. 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.