ATCO (TSE:ACO.X) Hits New 1-Year High – Here’s Why

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$57.17 and last traded at C$57.15, with a volume of 17519 shares traded. The stock had previously closed at C$56.42.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACO.X shares. CIBC boosted their price objective on shares of ATCO from C$67.00 to C$68.00 in a research note on Wednesday, December 17th. Royal Bank Of Canada upped their price objective on ATCO from C$53.00 to C$59.00 in a research note on Monday, November 10th. TD Securities raised their price objective on ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. National Bankshares boosted their target price on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Scotiabank increased their price target on ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ATCO currently has a consensus rating of “Hold” and a consensus price target of C$59.80.

ATCO Price Performance

The business’s fifty day moving average is C$54.96 and its 200-day moving average is C$52.13. 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 cap of C$6.40 billion, a PE ratio of 14.90, a P/E/G ratio of 3.80 and a beta of 0.38.

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.