ATCO (TSE:ACO.X) Sets New 1-Year High – Should You Buy?

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during mid-day 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 Analysts Forecast Growth

Several equities analysts have weighed in on the company. National Bankshares raised their price target on ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. TD Securities raised their target price on shares of ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Royal Bank Of Canada boosted their price target on shares of ATCO from C$53.00 to C$59.00 in a research report on Monday, November 10th. CIBC increased their price objective on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Finally, Scotiabank lifted their price objective on shares of ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. One research 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 currently has a consensus rating of “Hold” and a consensus target price of C$60.00.

ATCO Stock Up 2.0%

The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company’s fifty day moving average price is C$56.16 and its 200-day moving average price is C$53.09. The stock has a market cap of C$6.70 billion, a P/E ratio of 15.61, a price-to-earnings-growth 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.