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

Shares of ATCO Ltd. (TSE:ACO.X) hit a new 52-week high during trading on Thursday . The company traded as high as C$49.42 and last traded at C$49.35, with a volume of 65195 shares trading hands. The stock had previously closed at C$48.34.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ACO.X shares. National Bankshares boosted their price target on ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on shares of ATCO from C$50.50 to C$52.50 in a research report on Thursday, September 5th. Scotiabank lifted their price target on shares of ATCO from C$45.00 to C$49.00 in a report on Friday, November 15th. Royal Bank of Canada increased their price objective on ATCO from C$50.00 to C$51.00 in a report on Friday, November 15th. Finally, CIBC cut their target price on ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$51.10.

ATCO Trading Down 0.0 %

The firm has a 50-day moving average of C$47.52 and a 200 day moving average of C$43.28. The company has a market cap of C$4.92 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

Insiders Place Their Bets

In other news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of ATCO stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of C$48.50 per share, for a total transaction of C$48,500.00. In the last three months, insiders have acquired 12,000 shares of company stock worth $569,150. Corporate insiders own 0.61% of the company’s stock.

About ATCO

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.