ATCO (TSE:ACO.X) Sets New 1-Year High – What’s Next?

ATCO Ltd. (TSE:ACO.X)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$58.22 and last traded at C$58.21, with a volume of 55542 shares trading hands. The stock had previously closed at C$57.48.

Wall Street Analyst Weigh In

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

ATCO Trading Up 1.3%

The firm has a market cap of C$6.53 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 3.80 and a beta of 0.38. 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 business has a 50-day moving average of C$55.58 and a 200-day moving average of C$52.51.

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.