ATCO (TSE:ACO.X) Sets New 52-Week High – Time to Buy?

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$65.03 and last traded at C$64.48, with a volume of 419175 shares changing hands. The stock had previously closed at C$63.74.

Analyst Ratings Changes

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

ATCO Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a market cap of C$7.23 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. The company’s 50-day moving average is C$58.29 and its two-hundred day moving average is C$54.18.

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.