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

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Monday . The company traded as high as C$69.49 and last traded at C$69.39, with a volume of 37332 shares changing hands. The stock had previously closed at C$68.88.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACO.X. Scotiabank upped their target price on shares of ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. Canadian Imperial Bank of Commerce lifted their price objective on shares of ATCO from C$68.00 to C$69.00 in a research note on Wednesday, January 21st. National Bank Financial increased their target price on shares of ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. TD Securities raised their target price on shares of ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of ATCO from C$59.00 to C$66.00 in a research note on Friday, February 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$64.33.

ATCO Trading Up 0.4%

The stock has a fifty day moving average of C$64.42 and a 200-day moving average of C$57.87. 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 has a market cap of C$6.96 billion, a PE ratio of 51.90, a PEG ratio of 3.80 and a beta of 0.40.

ATCO (TSE:ACO.X) last released its earnings results on Thursday, February 26th. The company reported C$1.37 earnings per share for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. Sell-side analysts anticipate 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.