ATCO (TSE:ACO.X) Sets New 52-Week High – Still a Buy?

ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$80.91 and last traded at C$80.16, with a volume of 34915 shares traded. The stock had previously closed at C$78.31.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACO.X. Canadian Imperial Bank of Commerce increased their price objective on shares of ATCO from C$72.00 to C$82.00 in a research report on Monday, April 20th. Royal Bank Of Canada boosted their target price on shares of ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. National Bank Financial upped their price target on shares of ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Scotia increased their price target on 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, Scotiabank lifted their price objective on ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATCO presently has an average rating of “Hold” and a consensus price target of C$72.43.

ATCO Trading Up 2.6%

The firm’s 50-day moving average price is C$73.48 and its 200 day moving average price is C$67.88. The company has a market cap of C$8.11 billion, a price-to-earnings ratio of 57.78, a P/E/G ratio of 3.80 and a beta of 0.35. 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, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, equities analysts expect 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.