ATCO (TSE:ACO.X) Sets New 52-Week High – What’s Next?

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during trading on Wednesday . The company traded as high as C$62.36 and last traded at C$62.28, with a volume of 249588 shares changing hands. The stock had previously closed at C$61.90.

Wall Street Analyst Weigh In

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

ATCO Price Performance

The stock’s 50 day simple moving average is C$58.09 and its two-hundred day simple moving average is C$54.03. The firm has a market capitalization of C$7.15 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

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.