ATCO (TSE:ACO.X) Shares Pass Above 200 Day Moving Average – What’s Next?

ATCO Ltd. (TSE:ACO.X) crossed 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 Upgrades and Downgrades

A number of brokerages have recently issued reports on ACO.X. National Bank Financial increased their price objective on shares of ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. TD Securities increased their price target on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on ATCO from C$59.00 to C$66.00 in a research report on Friday, February 27th. BMO Capital Markets increased their target price on ATCO from C$63.00 to C$69.00 in a research report on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their price target on ATCO from C$68.00 to C$69.00 in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ATCO currently has a consensus rating of “Hold” and an average price target of C$64.33.

ATCO Trading Down 0.1%

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 cap of C$6.70 billion, a PE ratio of 49.95, a price-to-earnings-growth ratio of 3.80 and a beta of 0.55. The stock has a 50-day moving average price of C$60.82 and a two-hundred day moving average price of C$55.46.

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