ATCO (TSE:ACO.X) Hits New 52-Week High – Still a Buy?

ATCO Ltd. (TSE:ACO.X)’s stock price reached a new 52-week high on Wednesday . The company traded as high as C$66.94 and last traded at C$66.48, with a volume of 19507 shares changing hands. The stock had previously closed at C$65.91.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ACO.X. Royal Bank Of Canada boosted their price target on ATCO from C$59.00 to C$66.00 in a report on Friday, February 27th. Scotiabank increased their target price on ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. National Bank Financial raised their target price on shares of 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 target price on shares of ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. Finally, 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. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, ATCO presently has an average rating of “Hold” and a consensus target price of C$64.33.

ATCO Stock Up 1.5%

The stock has a fifty day moving average price of C$60.41 and a 200-day moving average price of C$55.30. The firm has a market cap of C$6.75 billion, a PE ratio of 50.31, a PEG ratio of 3.80 and a beta of 0.55. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

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.