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

ATCO Ltd. (TSE:ACO.X) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$73.97 and last traded at C$73.94, with a volume of 22184 shares traded. The stock had previously closed at C$73.40.

Analysts Set New Price Targets

Several research firms have recently commented on ACO.X. Canadian Imperial Bank of Commerce upped their price objective on shares of ATCO from C$72.00 to C$82.00 in a report on Monday, April 20th. National Bank Financial upped their price target on shares of ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. TD Securities lifted their price objective on ATCO from C$57.00 to C$67.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Finally, BMO Capital Markets upped their target price on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$69.86.

ATCO Price Performance

The stock’s fifty day moving average is C$69.70 and its 200-day moving average is C$64.34. The stock has a market capitalization of C$7.47 billion, a PE ratio of 53.19, a P/E/G ratio of 3.80 and a beta of 0.36. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

ATCO (TSE:ACO.X) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.47 earnings per share for the quarter. The company had revenue of C$1.43 billion during the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, equities analysts predict that ATCO Ltd. will post 4.1980634 earnings per share 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.