ATCO (TSE:ACO.X) Sets New 1-Year High – Time to Buy?

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Tuesday . The stock traded as high as C$59.93 and last traded at C$59.62, with a volume of 62837 shares traded. The stock had previously closed at C$58.63.

Wall Street Analysts Forecast Growth

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

ATCO Price Performance

The company’s 50-day moving average is C$56.44 and its 200-day moving average is C$53.25. The firm has a market cap of C$6.74 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. 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.