ATCO (TSE:ACO.X) Sets New 52-Week High – Here’s What Happened

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$62.36 and last traded at C$62.28, with a volume of 249588 shares changing hands. The stock had previously closed at C$61.90.

Wall Street Analysts Forecast Growth

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

ATCO Trading Up 0.6%

The company has a market cap of C$6.98 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.80 and a beta of 0.46. The business has a fifty day simple moving average of C$57.47 and a 200 day simple moving average of C$53.82. The company has a quick ratio of 1.48, a current ratio of 1.42 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.