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

Shares of ATCO Ltd. (TSE:ACO.X - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$52.48 and last traded at C$52.33, with a volume of 83776 shares changing hands. The stock had previously closed at C$51.86.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Scotiabank increased their target price on ATCO from C$49.00 to C$51.00 and gave the company a "sector perform" rating in a report on Thursday, February 13th. CIBC lifted their price target on shares of ATCO from C$59.00 to C$62.00 in a research report on Friday, April 4th. Finally, Royal Bank of Canada raised their price objective on shares of ATCO from C$51.00 to C$53.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th.

ATCO Price Performance

The company has a fifty day simple moving average of C$50.36 and a two-hundred day simple moving average of C$48.61. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company has a market capitalization of C$5.15 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 3.80 and a beta of 0.74.

Insider Activity

In other news, Senior Officer James Landon sold 1,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of C$49.80, for a total value of C$49,800.00. Also, Senior Officer James Armstrong sold 781 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of C$51.40, for a total transaction of C$40,143.40. Following the completion of the sale, the insider now owns 101 shares in the company, valued at approximately C$5,191.40. This trade represents a 88.55% decrease in their position. Insiders sold 2,957 shares of company stock valued at $147,033 in the last ninety days. Company insiders own 0.61% of the company's stock.

ATCO Company Profile

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.