ATCO (TSE:ACO.X) Sets New 12-Month High – Time to Buy?

ATCO Ltd. (TSE:ACO.X) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$78.75 and last traded at C$78.59, with a volume of 5784 shares changing hands. The stock had previously closed at C$78.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. National Bank Financial boosted their target price on shares of ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Royal Bank Of Canada lifted their price target on shares of ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Scotiabank boosted their price objective 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. Scotia boosted their price objective on shares of ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce raised their target price on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATCO presently has an average rating of “Hold” and an average price target of C$72.43.

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 company has a market capitalization of C$7.88 billion, a PE ratio of 56.18, a PEG ratio of 3.80 and a beta of 0.35. The company has a 50 day moving average price of C$72.35 and a 200 day moving average price of C$66.94.

ATCO (TSE:ACO.X) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) for the quarter. The business had revenue of C$1.43 billion during the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. Equities analysts forecast that ATCO Ltd. will post 4.1980634 EPS for the current year.

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.