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

ATCO Ltd. (TSE:ACO.X) shares reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$85.06 and last traded at C$85.06, with a volume of 21,228 shares trading hands. The stock had previously closed at C$84.39.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce dropped their price target on shares of ATCO from C$88.00 to C$85.00 in a research report on Tuesday, September 22nd. National Bank Financial lifted their price objective on shares of ATCO from C$79.00 to C$93.00 and gave the company a “sector perform” rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their price objective on shares of ATCO from C$80.00 to C$94.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 8th. BMO Capital Markets increased their target price on shares of ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Scotiabank increased their target price on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$81.86.

ATCO Trading Down 0.7%

The company’s fifty day simple moving average is C$76.89 and its 200-day simple moving average is C$71.36. The firm has a market capitalization of C$8.67 billion, a PE ratio of 53.64, a P/E/G ratio of 3.80 and a beta of 0.27. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

ATCO (TSE:ACO.X) last released its earnings results on Friday, November 6th. The company reported C$1.00 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The business had revenue of C$1.33 billion during the quarter. As a group, sell-side analysts expect that ATCO Ltd. will post 4.20 earnings per share for the current fiscal year.

ATCO Company Profile

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 20,000 employees and assets of $28 billion. ATCO is focused on delivering essential solutions across the housing, energy and defence sectors, helping build, power and protect a future everyone can count on. ATCO Structures delivers innovative modular solutions that help communities address growing housing demand while supporting industry and economic growth. Canadian Utilities, an ATCO subsidiary, delivers safe and reliable energy services through its utilities, midstream and generation businesses.