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

ATCO Ltd. (TSE:ACO.X)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$65.03 and last traded at C$64.48, with a volume of 419175 shares changing hands. The stock had previously closed at C$63.74.

Wall Street Analysts Forecast Growth

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

ATCO Stock Down 0.7%

The company’s fifty day simple moving average is C$58.67 and its 200-day simple moving average is C$54.36. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The firm has a market capitalization of C$7.21 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46.

ATCO Company Profile

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.