ATCO (TSE:ACO.X) Hits New 1-Year High After Analyst Upgrade

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$50.50 to C$52.50. The stock traded as high as C$46.28 and last traded at C$46.05, with a volume of 174389 shares changing hands. The stock had previously closed at C$45.67.

Several other equities analysts have also weighed in on ACO.X. National Bankshares upped their price objective on shares of ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. CIBC boosted their target price on shares of ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Royal Bank of Canada boosted their target price on shares of ATCO from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 6th. Finally, Scotiabank boosted their target price on shares of ATCO from C$43.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$48.08.

Insiders Place Their Bets

In other ATCO news, Senior Officer James Landon sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total value of C$56,628.00. In other ATCO news, Senior Officer James Landon sold 1,300 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total value of C$56,628.00. Also, insider Sentgraf Enterprises Ltd. acquired 59,200 shares of ATCO stock in a transaction on Friday, June 21st. The stock was purchased at an average cost of C$42.00 per share, with a total value of C$2,486,400.00. In the last ninety days, insiders sold 2,009 shares of company stock valued at $86,996. Corporate insiders own 0.61% of the company’s stock.

ATCO Stock Down 2.0 %

The stock’s 50-day moving average price is C$42.29 and its two-hundred day moving average price is C$39.75. The stock has a market capitalization of C$4.48 billion, a P/E ratio of 13.12, a P/E/G ratio of 3.80 and a beta of 0.73. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

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.