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

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Wednesday . The company traded as high as C$66.94 and last traded at C$66.48, with a volume of 19507 shares trading hands. The stock had previously closed at C$65.91.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACO.X. BMO Capital Markets increased their price target on ATCO from C$63.00 to C$69.00 in a research report on Friday, February 27th. 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 report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce upped their target price on ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. National Bank Financial increased their target price on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada boosted their price target on 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 given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$64.33.

ATCO Price Performance

The business’s 50 day moving average is C$60.82 and its 200-day moving average is C$55.46. The firm has a market capitalization of C$6.70 billion, a P/E ratio of 49.95, a PEG ratio of 3.80 and a beta of 0.55. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63.

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.