ATCO (TSE:ACO.X) Reaches New 1-Year High – Here’s Why

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$85.06 and last traded at C$85.06, with a volume of 21,228 shares changing hands. The stock had previously closed at C$84.39.

Analysts Set New Price Targets

ACO.X has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on ATCO from C$80.00 to C$94.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. Canadian Imperial Bank of Commerce cut their price target on ATCO from C$88.00 to C$85.00 in a research note on Tuesday, September 22nd. National Bank Financial increased their price target on ATCO from C$79.00 to C$93.00 and gave the stock a “sector perform” rating in a report on Thursday, October 8th. BMO Capital Markets lifted their price objective on shares of ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Scotiabank boosted their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ATCO currently has an average rating of “Hold” and an average price target of C$81.86.

ATCO Price Performance

The company has a 50-day moving average of C$76.48 and a two-hundred day moving average of C$71.07. 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 capitalization of C$8.64 billion, a PE ratio of 53.47, a P/E/G ratio of 3.80 and a beta of 0.20.

About ATCO

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 20,000 employees and assets of $28 billion. ATCO is focused on delivering essential solutions across the housing, energy and defence sectors, helping build, power and protect a future everyone can count on. ATCO Structures delivers innovative modular solutions that help communities address growing housing demand while supporting industry and economic growth. Canadian Utilities, an ATCO subsidiary, delivers safe and reliable energy services through its utilities, midstream and generation businesses.