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

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$57.90 and last traded at C$57.88, with a volume of 10700 shares changing hands. The stock had previously closed at C$57.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada lifted their price target on ATCO from C$53.00 to C$59.00 in a report on Monday, November 10th. TD Securities boosted their target price on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. National Bankshares increased their price target on ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. CIBC lifted their price objective on shares of ATCO from C$67.00 to C$68.00 in a research report on Wednesday, December 17th. Finally, Scotiabank upped their price objective on shares of ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, ATCO presently has an average rating of “Hold” and a consensus price target of C$59.80.

ATCO Stock Down 0.3%

The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a market cap of C$6.42 billion, a P/E ratio of 14.95, a PEG ratio of 3.80 and a beta of 0.38. The firm has a 50-day simple moving average of C$55.48 and a two-hundred day simple moving average of C$52.39.

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.