ATCO (TSE:ACO.X) Shares Cross 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 Friday . The stock has a 200-day moving average of C$48.31 and traded as high as C$51.31. ATCO shares last traded at C$50.69, with a volume of 122,313 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Scotiabank lifted their price target on ATCO from C$49.00 to C$51.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. CIBC lifted their target price on ATCO from C$59.00 to C$62.00 in a research note on Friday, April 4th. Finally, Royal Bank of Canada increased their price target 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.

ATCO Price Performance

The business's 50 day moving average is C$49.60 and its two-hundred day moving average is C$48.33. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The firm has a market capitalization of C$5.03 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74.

Insider Activity

In related news, Senior Officer James Landon sold 1,000 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of C$49.80, for a total transaction of C$49,800.00. Also, Senior Officer James Armstrong sold 781 shares of ATCO stock in a transaction dated 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 now owns 101 shares of the company's stock, valued at approximately C$5,191.40. This trade represents a 88.55% decrease in their position. Over the last three months, insiders sold 2,957 shares of company stock worth $147,033. 0.61% of the stock is owned by corporate 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.