ATCO (TSE:ACO.X) Sets New 12-Month High – Time to Buy?

ATCO Ltd. (TSE:ACO.X)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$48.89 and last traded at C$48.80, with a volume of 193795 shares traded. The stock had previously closed at C$47.90.

Wall Street Analysts Forecast Growth

ACO.X has been the topic of a number of recent research reports. CIBC increased their target price on ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Royal Bank of Canada raised their price objective on shares of ATCO from C$47.00 to C$50.00 and gave the company a “sector perform” rating in a research note on Thursday, October 3rd. Scotiabank lifted their target price on shares of ATCO from C$43.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. National Bankshares increased their price target on shares of ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets upped their price objective on ATCO from C$50.50 to C$52.50 in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$48.58.

ATCO Stock Up 1.9 %

The company has a market cap of C$4.87 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The company has a fifty day moving average of C$45.45 and a two-hundred day moving average of C$41.25. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insider Activity

In related news, Senior Officer James Landon sold 1,300 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total transaction of C$56,628.00. In related news, Senior Officer James Landon sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$43.56, for a total transaction of C$56,628.00. Also, insider Sentgraf Enterprises Ltd. purchased 10,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was acquired at an average cost of C$47.50 per share, with a total value of C$475,000.00. Over the last ninety days, 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.