ATCO (TSE:ACO.X) Sets New 52-Week High - Still a Buy?

Key Points

• ATCO shares reached a new 52-week high of C$80.91 and were last trading at C$80.16, up 2.6%, with a market capitalization of approximately C$8.11 billion.
• Recent analyst target increases range from C$69 to C$82, but all five tracked analysts rate the stock “Hold.” The average target price of C$72.43 is below its current trading level.
• ATCO reported quarterly EPS of C$1.01, with an 8.16% net margin and 8.54% return on equity; analysts expect full-year EPS of about C$4.20. Its high price-to-earnings ratio of 57.78 and debt-to-equity ratio of 131.63 may warrant caution.

ATCO Ltd. (TSE:ACO.X - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$80.91 and last traded at C$80.16, with a volume of 34915 shares trading hands. The stock had previously closed at C$78.31.

Wall Street Analyst Weigh In

ACO.X has been the subject of several recent analyst reports. National Bank Financial upped their target price on ATCO from C$62.00 to C$69.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Scotiabank lifted their price target on ATCO from C$70.00 to C$79.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on ATCO from C$66.00 to C$71.00 and gave the stock a "sector perform" rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce raised their price objective on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Finally, Scotia raised their price objective on ATCO from C$67.00 to C$70.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, ATCO presently has an average rating of "Hold" and an average target price of C$72.43.

ATCO Stock Up 2.6%

The stock has a market capitalization of C$8.11 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The stock has a 50 day moving average price of C$73.48 and a 200 day moving average price of C$67.88.

ATCO (TSE:ACO.X - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, analysts forecast that ATCO Ltd. will post 4.1980634 EPS for the current year.

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. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.

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