ATCO (TSE:ACO.X) Hits New 1-Year High on Analyst Upgrade

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Monday after BMO Capital Markets raised their price target on the stock from C$63.00 to C$69.00. The stock traded as high as C$65.35 and last traded at C$64.98, with a volume of 112634 shares. The stock had previously closed at C$64.86.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial increased their price target on shares of ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. TD Securities upped their price objective on shares of ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Scotiabank raised their target price on ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada upped their price target on ATCO from C$59.00 to C$66.00 in a research report on Friday. Finally, Canadian Imperial Bank of Commerce lifted their price objective on ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$62.67.

ATCO Stock Up 0.1%

The company’s 50-day moving average is C$59.01 and its two-hundred day moving average is C$54.57. 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 cap of C$7.28 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.80 and a beta of 0.46.

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.