ATCO (TSE:ACO.X) Sets New 52-Week High – Here’s What Happened

ATCO Ltd. (TSE:ACO.X)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$62.36 and last traded at C$62.28, with a volume of 249588 shares traded. The stock had previously closed at C$61.90.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Securities lifted their price target on shares of ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Canadian Imperial Bank of Commerce lifted their price objective on shares of ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of ATCO from C$53.00 to C$59.00 in a research note on Monday, November 10th. Scotiabank raised their price target on ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. Finally, National Bank Financial lifted their price target on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$60.00.

ATCO Stock Performance

The firm has a fifty day simple moving average of C$57.47 and a 200-day simple moving average of C$53.82. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a market cap of C$6.98 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46.

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.