ATCO (TSE:ACO.X) Hits New 52-Week High – Here’s Why

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$74.78 and last traded at C$74.72, with a volume of 7348 shares. The stock had previously closed at C$74.47.

Analysts Set New Price Targets

ACO.X has been the topic of a number of research reports. National Bank Financial boosted their price target on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on ATCO from C$72.00 to C$82.00 in a report on Monday, April 20th. Scotia lifted their target price on ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$69.86.

ATCO Stock Performance

The company has a market capitalization of C$7.54 billion, a price-to-earnings ratio of 53.71, a P/E/G ratio of 3.80 and a beta of 0.35. The stock’s 50 day moving average price is C$71.00 and its 200 day moving average price is C$65.76. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

ATCO (TSE:ACO.X) last released its earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) 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$1.43 billion for the quarter. Analysts expect that ATCO Ltd. will post 4.1980634 earnings per share 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.