ATCO (TSE:ACO.X) Hits New 12-Month High – Here’s Why

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$69.28 and last traded at C$68.50, with a volume of 175496 shares trading hands. The stock had previously closed at C$68.10.

Analyst Ratings Changes

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

ATCO Stock Down 0.2%

The firm has a market capitalization of C$6.85 billion, a price-to-earnings ratio of 51.10, a P/E/G ratio of 3.80 and a beta of 0.55. The firm has a fifty day moving average price of C$63.58 and a 200 day moving average price of C$57.22. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

ATCO (TSE:ACO.X) last issued its quarterly earnings data on Thursday, February 26th. The company reported C$1.37 earnings per share (EPS) 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.