ATCO (TSE:ACO.X) Hits New 1-Year High - Here's What Happened

Key Points

• Shares of ATCO Ltd. reached a new 52-week high trading at C$52.55, with a last trading value of C$52.44.
• Analysts show mixed sentiments with TD Securities lowering their target price to C$55.00 while Scotiabank raised their target price to C$55.00, keeping the consensus rating at "Hold."
• ATCO has a market capitalization of C$5.88 billion and operates primarily in sectors including utilities and energy infrastructure.

Shares of ATCO Ltd. (TSE:ACO.X - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$52.55 and last traded at C$52.44, with a volume of 103434 shares changing hands. The stock had previously closed at C$51.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Securities reduced their target price on ATCO from C$56.00 to C$55.00 and set a "hold" rating for the company in a report on Friday, August 1st. Scotiabank upped their target price on ATCO from C$54.00 to C$55.00 and gave the company a "sector perform" rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$56.25.

ATCO Trading Up 1.8%

The firm has a fifty day simple moving average of C$49.91 and a two-hundred day simple moving average of C$50.40. The firm has a market capitalization of C$5.88 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

About ATCO

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.

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