ATCO (TSE:ACO.X) Hits New 1-Year High – Should You Buy?

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Tuesday. The stock traded as high as C$85.00 and last traded at C$84.01, with a volume of 409261 shares changing hands. The stock had previously closed at C$74.18.

Analyst Upgrades and Downgrades

Several research firms have commented on ACO.X. Canadian Imperial Bank of Commerce dropped their price objective on shares of ATCO from C$88.00 to C$85.00 in a research note on Tuesday, September 22nd. Scotiabank raised their target price on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. National Bank Financial lifted their price target on shares of ATCO from C$69.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. BMO Capital Markets increased their price objective on shares of ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price objective on shares of ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$77.86.

ATCO Stock Performance

The firm has a market capitalization of C$9.22 billion, a P/E ratio of 51.19, a P/E/G ratio of 3.80 and a beta of 0.20. The firm has a 50-day moving average price of C$74.89 and a two-hundred day moving average price of C$72.47. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

ATCO (TSE:ACO.X) last issued its earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. On average, analysts forecast that ATCO Ltd. will post 4.1980634 EPS for the current fiscal year.

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.