ATCO (TSE:ACO.X) Sets New 1-Year High – What’s Next?

ATCO Ltd. (TSE:ACO.X) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$75.68 and last traded at C$75.28, with a volume of 201549 shares trading hands. The stock had previously closed at C$74.61.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. National Bank Financial upped their price target on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Scotia raised their price target on ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on ATCO from C$72.00 to C$82.00 in a research report on Monday, April 20th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ATCO has an average rating of “Hold” and an average price target of C$69.86.

ATCO Stock Up 0.9%

The firm has a 50 day simple moving average of C$71.27 and a two-hundred day simple moving average of C$66.03. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The stock has a market cap of C$7.60 billion, a price-to-earnings ratio of 54.16, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X) last posted its earnings results on Wednesday, May 6th. The company reported C$1.47 earnings per share (EPS) for the quarter. The company had revenue of C$1.43 billion during the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. As a group, sell-side analysts expect that ATCO Ltd. will post 4.1980634 EPS for the current 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.