ATCO (TSE:ACO.X) Reaches New 12-Month High – Here’s What Happened

ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$59.93 and last traded at C$59.62, with a volume of 62837 shares traded. The stock had previously closed at C$58.63.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACO.X. 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. Scotiabank raised their price objective on shares of ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. CIBC upped their target price on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their price target on ATCO from C$53.00 to C$59.00 in a research report on Monday, November 10th. Finally, TD Securities upped their price objective on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, ATCO has an average rating of “Hold” and a consensus price target of C$60.00.

ATCO Stock Performance

The firm’s 50-day moving average price is C$56.16 and its 200-day moving average price is C$53.09. 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 stock has a market cap of C$6.70 billion, a P/E ratio of 15.61, a PEG ratio of 3.80 and a beta of 0.38.

ATCO Company Profile

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.