ATCO (TSE:ACO.X) Hits New 12-Month High – What’s Next?

ATCO Ltd. (TSE:ACO.X)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$49.84 and last traded at C$49.81, with a volume of 23339 shares changing hands. The stock had previously closed at C$49.23.

Analysts Set New Price Targets

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

ATCO Trading Up 1.9 %

The company has a market cap of C$5.00 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The company’s 50 day moving average price is C$47.88 and its 200 day moving average price is C$43.68. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insiders Place Their Bets

In other news, insider Sentgraf Enterprises Ltd. purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of C$48.50 per share, with a total value of C$48,500.00. Insiders have acquired 12,000 shares of company stock valued at $569,150 over the last three months. 0.61% of the stock is currently owned by insiders.

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.