ATCO (TSE:ACO.X) Sets New 52-Week High – Time to Buy?

ATCO Ltd. (TSE:ACO.X)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$56.69 and last traded at C$56.62, with a volume of 411272 shares trading hands. The stock had previously closed at C$55.59.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACO.X shares. TD Securities upped their price objective on ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday. CIBC upped their price target on ATCO from C$64.00 to C$67.00 in a research note on Monday. Royal Bank Of Canada increased their price target on shares of ATCO from C$53.00 to C$59.00 in a research report on Monday. Finally, Scotiabank lifted their price objective on shares of ATCO from C$54.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$59.50.

ATCO Price Performance

The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company has a fifty day moving average price of C$51.26 and a two-hundred day moving average price of C$51.00. The company has a market cap of C$6.37 billion, a P/E ratio of 14.48, a PEG ratio of 3.80 and a beta of 0.37.

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.