ATCO (TSE:ACO.X) Sets New 52-Week High on Analyst Upgrade

ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$94.00 to C$99.00. Royal Bank Of Canada currently has a sector perform rating on the stock. ATCO traded as high as C$86.79 and last traded at C$86.71, with a volume of 25,419 shares trading hands. The stock had previously closed at C$85.78.

A number of other analysts have also issued reports on ACO.X. BMO Capital Markets increased their price target 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. National Bank Financial lifted their price objective on ATCO from C$93.00 to C$94.00 and gave the company a “sector perform” rating in a research report on Monday. Canadian Imperial Bank of Commerce dropped their price objective on ATCO from C$88.00 to C$85.00 in a report on Tuesday, September 22nd. Finally, Scotiabank lifted their target price on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$82.71.

ATCO Price Performance

The company has a market cap of C$8.76 billion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 3.80 and a beta of 0.27. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a 50 day moving average price of C$77.33 and a 200-day moving average price of C$71.63.

ATCO (TSE:ACO.X) last issued its earnings results on Friday, November 6th. The company reported C$1.00 earnings per share for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. The business had revenue of C$1.33 billion during the quarter. As a group, equities research analysts predict that ATCO Ltd. will post 4.20 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.