ATCO (TSE:ACO.X) Hits New 52-Week High – Time to Buy?

ATCO Ltd. (TSE:ACO.X)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$61.01 and last traded at C$60.79, with a volume of 16373 shares. The stock had previously closed at C$60.35.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACO.X. Canadian Imperial Bank of Commerce boosted their price objective on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. National Bank Financial upped their target price on ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. TD Securities increased their price target on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Scotiabank boosted their price objective on ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. Finally, Royal Bank Of Canada increased their target price on ATCO from C$53.00 to C$59.00 in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$60.00.

ATCO Stock Up 1.7%

The company has a market cap of C$6.88 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. The stock has a 50-day simple moving average of C$56.80 and a 200-day simple moving average of C$53.50. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

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.