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

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Thursday . The stock traded as high as C$57.17 and last traded at C$57.15, with a volume of 17519 shares. The stock had previously closed at C$56.42.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ACO.X shares. TD Securities boosted their price objective on 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 lifted their target price on shares of ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. National Bankshares upped 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 note on Wednesday, December 17th. CIBC raised their price objective on shares of ATCO from C$67.00 to C$68.00 in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of ATCO from C$53.00 to C$59.00 in a research note on Monday, November 10th. 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, the company has an average rating of “Hold” and a consensus target price of C$59.80.

ATCO Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a 50-day moving average of C$54.96 and a 200 day moving average of C$52.13. The firm has a market capitalization of C$6.40 billion, a PE ratio of 14.90, a PEG ratio of 3.80 and a beta of 0.38.

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.