ATCO (TSE:ACO.X) Stock Price Crosses Above 200-Day Moving Average - What's Next?

ATCO Ltd. (TSE:ACO.X - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$41.09 and traded as high as C$48.00. ATCO shares last traded at C$47.90, with a volume of 184,993 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on ACO.X. Scotiabank lifted their price objective on ATCO from C$43.00 to C$45.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective on shares of ATCO from C$50.50 to C$52.50 in a research report on Thursday, September 5th. Royal Bank of Canada raised their target price on shares of ATCO from C$47.00 to C$50.00 and gave the company a "sector perform" rating in a report on Thursday, October 3rd. CIBC upped their price target on shares of ATCO from C$49.00 to C$51.00 and gave the stock an "outperform" rating in a report on Tuesday, August 6th. Finally, National Bankshares increased their price target on shares of ATCO from C$40.00 to C$45.00 and gave the stock a "sector perform" rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$48.58.

ATCO Price Performance

The company has a fifty day simple moving average of C$45.34 and a 200 day simple moving average of C$41.18. 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 stock has a market capitalization of C$4.78 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 3.80 and a beta of 0.74.

Insiders Place Their Bets

In other ATCO news, Senior Officer James Landon sold 1,300 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total transaction of C$56,628.00. In other news, Senior Officer James Landon sold 1,300 shares of the company's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$43.56, for a total transaction of C$56,628.00. Also, insider Sentgraf Enterprises Ltd. purchased 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average cost of C$47.50 per share, for a total transaction of C$475,000.00. Insiders acquired 12,000 shares of company stock worth $569,150 over the last quarter. 0.61% of the stock is currently owned by company insiders.

ATCO Company Profile

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.