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

Shares of ATCO Ltd. (TSE:ACO.X) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$55.30 and traded as high as C$66.19. ATCO shares last traded at C$65.91, with a volume of 244,174 shares.

Analyst Ratings Changes

Several analysts recently commented on the company. Scotiabank lifted their price objective on ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. National Bank Financial raised their target price on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. BMO Capital Markets boosted their price target on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce upped their price target on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Finally, TD Securities increased their price objective on shares of ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$64.33.

ATCO Stock Up 0.4%

The company has a 50-day moving average of C$60.41 and a two-hundred day moving average of C$55.30. 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 company has a market capitalization of C$6.65 billion, a PE ratio of 49.56, a P/E/G ratio of 3.80 and a beta of 0.55.

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. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.