ATCO (TSE:ACO.X) Sets New 52-Week High on Analyst Upgrade

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during mid-day trading on Monday after TD Securities raised their price target on the stock from C$57.00 to C$67.00. TD Securities currently has a hold rating on the stock. ATCO traded as high as C$65.35 and last traded at C$64.98, with a volume of 112634 shares changing hands. The stock had previously closed at C$64.86.

Several other research analysts have also recently weighed in on ACO.X. Royal Bank Of Canada upped their price target on shares of ATCO from C$59.00 to C$66.00 in a report on Friday, February 27th. BMO Capital Markets boosted their target price on ATCO from C$63.00 to C$69.00 in a research report on Friday, February 27th. Scotiabank raised their price target on ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. Canadian Imperial Bank of Commerce lifted their price target on ATCO from C$68.00 to C$69.00 in a research report on Wednesday, January 21st. Finally, National Bank Financial boosted their price objective 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 investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, ATCO presently has an average rating of “Hold” and an average price target of C$64.33.

ATCO Stock Performance

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 business has a 50 day moving average price of C$59.41 and a two-hundred day moving average price of C$54.77. The stock has a market cap of C$7.33 billion, a P/E ratio of 17.08, 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.