ATCO (TSE:ACO.X) Sets New 12-Month High – Here’s Why

ATCO Ltd. (TSE:ACO.X) shares hit a new 52-week high on Tuesday . The company traded as high as C$67.55 and last traded at C$67.40, with a volume of 173980 shares trading hands. The stock had previously closed at C$67.00.

Analyst Ratings Changes

ACO.X has been the subject of a number of research reports. Canadian Imperial Bank of Commerce boosted their price target on shares of ATCO from C$68.00 to C$69.00 in a research note on Wednesday, January 21st. Scotiabank raised their price objective on shares of ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. BMO Capital Markets lifted their price objective on shares of ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. National Bank Financial upped their target price on shares of ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada increased their target price on ATCO from C$59.00 to C$66.00 in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$64.33.

ATCO Stock Up 0.6%

The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a 50 day simple moving average of C$61.25 and a 200 day simple moving average of C$55.77. The firm has a market capitalization of C$6.80 billion, a PE ratio of 50.68, a PEG ratio of 3.80 and a beta of 0.55.

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.