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

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during trading on Thursday . The company traded as high as C$61.01 and last traded at C$60.79, with a volume of 16373 shares. The stock had previously closed at C$60.35.

Analyst Ratings Changes

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

ATCO Stock Performance

The firm’s 50 day simple moving average is C$57.12 and its 200 day simple moving average is C$53.63. The firm has a market cap of C$6.94 billion, a PE ratio of 16.16, a PEG ratio of 3.80 and a beta of 0.46. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

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.