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

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Friday . The stock traded as high as C$55.25 and last traded at C$55.19, with a volume of 120935 shares. The stock had previously closed at C$53.59.

Analyst Ratings Changes

ACO.X has been the topic of several recent analyst reports. TD Securities cut their target price on shares of ATCO from C$56.00 to C$55.00 and set a “hold” rating on the stock in a research note on Friday, August 1st. Scotiabank upped their price target on ATCO from C$54.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Monday, October 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$56.25.

ATCO Stock Up 3.0%

The business’s 50 day simple moving average is C$50.90 and its 200-day simple moving average is C$50.89. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company has a market cap of C$6.21 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 3.80 and a beta of 0.37.

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.