ATCO (TSE:ACO.X) Hits New 1-Year High Following Insider Buying Activity

ATCO Ltd. (TSE:ACO.X) reached a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as C$46.64 and last traded at C$46.54, with a volume of 31701 shares traded. The stock had previously closed at C$46.22.

Specifically, insider Sentgraf Enterprises Ltd. purchased 1,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of C$45.65 per share, with a total value of C$45,650.00.

Wall Street Analysts Forecast Growth

ACO.X has been the subject of several research analyst reports. CIBC raised their price objective on ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. BMO Capital Markets lifted their price objective on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Royal Bank of Canada increased their price objective on shares of ATCO from C$46.00 to C$47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 6th. National Bankshares increased their price target on ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Finally, Scotiabank lifted their price objective on ATCO from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$48.08.

ATCO Stock Performance

The company has a market capitalization of C$4.65 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 3.80 and a beta of 0.73. The firm has a fifty day simple moving average of C$43.84 and a 200 day simple moving average of C$40.45. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48.

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.