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

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$57.17 and last traded at C$57.15, with a volume of 17519 shares changing hands. The stock had previously closed at C$56.42.

Analysts Set New Price Targets

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

ATCO Stock Up 0.5%

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 firm has a market cap of C$6.40 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 3.80 and a beta of 0.38. The business’s 50 day moving average price is C$55.13 and its 200 day moving average price is C$52.20.

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.