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

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

Analysts Set New Price Targets

ACO.X has been the subject of several research analyst reports. Royal Bank of Canada raised their target price on ATCO from C$50.00 to C$51.00 in a research report on Friday, November 15th. CIBC decreased their price objective on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. Scotiabank boosted their target price on shares of ATCO from C$45.00 to C$49.00 in a research note on Friday, November 15th. BMO Capital Markets raised their price target on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Finally, National Bankshares upped their price objective on 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, ATCO presently has a consensus rating of “Hold” and an average target price of C$51.10.

ATCO Price Performance

The stock has a market capitalization of C$4.92 billion, a PE ratio of 14.13, a P/E/G ratio of 3.80 and a beta of 0.74. The company has a fifty day simple moving average of C$47.39. 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 related news, insider Sentgraf Enterprises Ltd. acquired 1,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of C$48.50 per share, for a total transaction of C$48,500.00. Over the last ninety days, insiders have acquired 12,000 shares of company stock valued at $569,150. 0.61% of the stock is currently owned by corporate insiders.

ATCO Company Profile

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.