ATCO (TSE:ACO.X) Hits New 1-Year High – What’s Next?

ATCO Ltd. (TSE:ACO.X)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$61.01 and last traded at C$60.79, with a volume of 16373 shares changing hands. The stock had previously closed at C$60.35.

Wall Street Analyst Weigh In

ACO.X has been the subject of a number of research reports. Scotiabank raised their target price on shares of ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce increased their price objective on ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. National Bank Financial raised their price objective on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. TD Securities boosted their target price on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada upped their target price on ATCO from C$53.00 to C$59.00 in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$60.00.

ATCO Stock 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 firm’s 50 day moving average is C$56.80 and its 200-day moving average is C$53.50. The firm has a market cap of C$6.88 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46.

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.