ATCO (TSE:ACO.X) Share Price Passes Above 200 Day Moving Average – Here’s Why

ATCO Ltd. (TSE:ACO.X)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$44.95 and traded as high as C$47.80. ATCO shares last traded at C$47.09, with a volume of 121,206 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. CIBC cut their price target on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Finally, Scotiabank increased their price objective on shares of ATCO from C$45.00 to C$49.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$51.10.

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$4.73 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The stock has a 50 day moving average price of C$48.15 and a 200-day moving average price of C$45.00.

Insiders Place Their Bets

In related news, insider Sentgraf Enterprises Ltd. purchased 7,400 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of C$49.00 per share, with a total value of C$362,600.00. 0.61% of the stock is currently owned by corporate insiders.

About ATCO

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.