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

ATCO Ltd. (TSE:ACO.X - Get Free Report) passed 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on ACO.X shares. TD Securities dropped their price target on shares of ATCO from C$56.00 to C$55.00 and set a "hold" rating for the company in a research note on Friday. CIBC lifted their price target 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 lifted their price target 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$53.08.

ATCO Trading Up 1.4%

The company's 50 day moving average price is C$51.02 and its two-hundred day moving average price is C$49.49. 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$5.08 billion, a PE ratio of 14.88, a P/E/G ratio of 3.80 and a beta of 0.74.

Insider Activity

In related news, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of ATCO stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total value of C$77,100.00. Also, Senior Officer James Armstrong sold 781 shares of the business's 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 of the company's stock, valued at C$5,191.40. This trade represents a 88.55% decrease in their position. In the last three months, insiders have sold 2,357 shares of company stock valued at $121,090. Company insiders own 0.61% of the company's stock.

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.