ATCO (TSE:ACO.X) Shares Cross Above 200 Day Moving Average - Here's Why

ATCO Ltd. (TSE:ACO.X - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$48.68 and traded as high as C$51.91. ATCO shares last traded at C$51.60, with a volume of 122,795 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ACO.X shares. Scotiabank raised their price objective on shares of ATCO from C$49.00 to C$51.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Royal Bank of Canada raised 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. Finally, CIBC raised their price objective on shares of ATCO from C$59.00 to C$62.00 in a research note on Friday, April 4th.

ATCO Stock Performance

The stock has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. 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 stock's 50-day simple moving average is C$50.49 and its 200 day simple moving average is C$48.72.

Insider Buying and Selling at ATCO

In other news, Senior Officer James Landon sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 the company'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 now owns 101 shares in the company, valued at C$5,191.40. The trade was a 88.55% decrease in their ownership of the stock. Insiders have sold a total of 2,557 shares of company stock worth $127,889 over the last ninety days. Corporate 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.