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

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$53.45 and traded as high as C$59.60. ATCO shares last traded at C$59.44, with a volume of 259,160 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ACO.X shares. Scotiabank upped their price target on shares of ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada boosted their price objective on shares of ATCO from C$53.00 to C$59.00 in a research report on Monday, November 10th. National Bankshares upped their price objective on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce raised their price objective on ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Finally, TD Securities boosted their price objective on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, ATCO currently has a consensus rating of “Hold” and an average target price of C$60.00.

ATCO Stock Up 0.8%

The firm has a market capitalization of C$6.66 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. 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’s fifty day simple moving average is C$56.69 and its 200-day simple moving average is C$53.45.

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.