ATCO (TSE:ACO.X) Sets New 1-Year High – Should You Buy?

Shares of ATCO Ltd. (TSE:ACO.X) reached a new 52-week high on Wednesday . The stock traded as high as C$50.72 and last traded at C$50.67, with a volume of 28927 shares traded. The stock had previously closed at C$50.41.

Wall Street Analysts Forecast Growth

ACO.X has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of ATCO from C$49.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. CIBC lifted their price target on shares of ATCO from C$58.00 to C$59.00 in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$51.70.

ATCO Stock Performance

The stock’s fifty day moving average price is C$47.74 and its two-hundred day moving average price is C$47.66. The company has a market cap of C$5.03 billion, a P/E ratio of 14.74, a P/E/G ratio of 3.80 and a beta of 0.74. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insiders Place Their Bets

In other news, Director Dawn Lorraine Farrell bought 10,550 shares of the stock in a transaction on Friday, January 3rd. The stock was acquired at an average price of C$47.36 per share, with a total value of C$499,689.15. Also, Senior Officer James Landon sold 1,000 shares of ATCO 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. Insiders sold 2,100 shares of company stock worth $103,044 over the last three months. 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.