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

ATCO Ltd. (TSE:ACO.X)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$59.00 and last traded at C$58.77, with a volume of 21054 shares changing hands. The stock had previously closed at C$58.39.

Analyst Upgrades and Downgrades

ACO.X has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. Royal Bank Of Canada raised their price target on ATCO from C$53.00 to C$59.00 in a report on Monday, November 10th. TD Securities lifted their price target on ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. CIBC upped their price objective on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Finally, National Bankshares lifted their target price on shares of ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$60.00.

ATCO Trading Up 0.8%

The firm has a market capitalization of C$6.63 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 3.80 and a beta of 0.38. The stock has a 50-day simple moving average of C$56.00 and a two-hundred day simple moving average of C$52.94. 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.