ATCO (TSE:ACO.X) Hits New 52-Week High Following Analyst Upgrade

ATCO Ltd. (TSE:ACO.X)’s stock price hit a new 52-week high on Thursday after National Bank Financial raised their price target on the stock from C$69.00 to C$79.00. National Bank Financial currently has a sector perform rating on the stock. ATCO traded as high as C$80.91 and last traded at C$80.16, with a volume of 34915 shares. The stock had previously closed at C$78.31.

A number of other research analysts have also recently weighed in on ACO.X. Canadian Imperial Bank of Commerce boosted their target price on shares of ATCO from C$85.00 to C$88.00 in a research note on Thursday. Scotiabank raised their price target on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Scotia lifted their price target on shares of ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. BMO Capital Markets upped their price objective on ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank Of Canada upped their price objective on ATCO from C$71.00 to C$80.00 and gave the company a “sector perform” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$78.29.

Key Stories Impacting ATCO

Here are the key news stories impacting ATCO this week:

• Positive Sentiment: CIBC raised its price target on ATCO Ltd. (ACO.X) to C$88 from C$85, implying approximately 8.1% upside, supporting its constructive outlook. BayStreet.CA Tickerreport.com
• Positive Sentiment: BMO Capital Markets increased its target to C$85 from C$72 and upgraded its view to “outperform,” indicating about 4.4% potential upside. BayStreet.CA
• Neutral Sentiment: Royal Bank of Canada raised its target to C$80 from C$71 but maintained a “sector perform” rating, suggesting little upside from recent levels. BayStreet.CA
• Negative Sentiment: National Bank Financial lifted its target to C$79 from C$69 while retaining a “sector perform” rating. The new target implies roughly 1.2% downside, potentially limiting enthusiasm after ATCO’s strong rally. BayStreet.CA

ATCO Stock Performance

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 firm has a market capitalization of C$8.06 billion, a PE ratio of 57.42, a P/E/G ratio of 3.80 and a beta of 0.35. The company’s fifty day simple moving average is C$73.85 and its 200 day simple moving average is C$68.14.

ATCO (TSE:ACO.X) last posted its earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, equities research analysts expect that ATCO Ltd. will post 4.1980634 EPS for the current fiscal year.

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.