ATCO (TSE:ACO.X) Sets New 52-Week High – Time to Buy?

ATCO Ltd. (TSE:ACO.X) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$49.42 and last traded at C$49.35, with a volume of 65195 shares trading hands. The stock had previously closed at C$48.34.

Analyst Ratings Changes

A number of analysts have recently commented on ACO.X shares. BMO Capital Markets lifted their price target on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. National Bankshares lifted their target price on shares of ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Royal Bank of Canada increased their price target on ATCO from C$50.00 to C$51.00 in a report on Friday, November 15th. CIBC cut their price objective on ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Finally, Scotiabank increased their target price on ATCO from C$45.00 to C$49.00 in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$51.10.

ATCO Stock Performance

The firm has a market capitalization of C$4.92 billion, a PE ratio of 14.13, a P/E/G ratio of 3.80 and a beta of 0.74. 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 firm’s 50-day simple moving average is C$47.39.

Insiders Place Their Bets

In other ATCO news, insider Sentgraf Enterprises Ltd. purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were bought at an average cost of C$47.50 per share, with a total value of C$475,000.00. Insiders purchased a total of 12,000 shares of company stock worth $569,150 over the last quarter. 0.61% of the stock is currently owned by corporate insiders.

About ATCO

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.