ATCO (TSE:ACO.X) Sets New 12-Month High – Here’s Why

ATCO Ltd. (TSE:ACO.X)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$67.55 and last traded at C$67.40, with a volume of 173980 shares changing hands. The stock had previously closed at C$67.00.

Analysts Set New Price Targets

Several brokerages have weighed in on ACO.X. Scotiabank increased 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 upped their price objective on shares of ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. TD Securities increased their target price on shares of ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada raised their target price on ATCO from C$59.00 to C$66.00 in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce boosted their price target on ATCO from C$68.00 to C$69.00 in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$64.33.

ATCO Stock Performance

The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The stock has a market capitalization of C$6.80 billion, a P/E ratio of 50.68, a PEG ratio of 3.80 and a beta of 0.55. The business has a 50-day moving average price of C$61.25 and a 200 day moving average price of C$55.77.

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.