ATCO (TSE:ACO.X) Reaches New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank lifted their target price on ATCO from C$45.00 to C$49.00 in a report on Friday, November 15th. National Bankshares boosted their price objective on ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. CIBC dropped their target price on shares of ATCO from C$59.00 to C$58.00 in a report on Friday, November 15th. BMO Capital Markets upped their price target on shares of ATCO from C$50.50 to C$52.50 in a report on Thursday, September 5th. Finally, Royal Bank of Canada increased their price objective on shares of ATCO from C$50.00 to C$51.00 in a research report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ATCO has an average rating of “Hold” and a consensus target price of C$51.10.

ATCO Stock Performance

The stock has a market capitalization of C$4.92 billion, a P/E ratio of 14.42, a PEG ratio of 3.80 and a beta of 0.74. The stock’s 50-day simple moving average is C$47.52 and its 200 day simple moving average is C$43.28. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

Insider Buying and Selling at ATCO

In related news, insider Sentgraf Enterprises Ltd. purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was acquired at an average cost of C$47.50 per share, for a total transaction of C$475,000.00. Insiders have bought a total of 12,000 shares of company stock valued at $569,150 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.