ATCO (TSE:ACO.X) Price Target Raised to C$88.00

ATCO (TSE:ACO.X) had its price objective hoisted by Canadian Imperial Bank of Commerce from C$85.00 to C$88.00 in a report issued on Thursday morning,BayStreet.CA reports.

A number of other equities research analysts have also issued reports on ACO.X. National Bank Financial increased their price objective on shares of ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Scotia boosted their target price on shares of ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on shares of ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, Scotiabank raised their target price on shares of 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. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$78.29.

ATCO Price Performance

Shares of ATCO stock opened at C$79.81 on Thursday. The company has a market capitalization of C$8.06 billion, a price-to-earnings ratio of 57.42, a PEG 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’s 50-day simple moving average is C$73.85 and its 200-day simple moving average is C$68.14. ATCO has a 52 week low of C$47.52 and a 52 week high of C$81.41.

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

Trending Headlines about ATCO

Here are the key news stories impacting ATCO this week:

• Positive Sentiment: CIBC raised its price target on ATCO Ltd. (ACO.X) to C$88 from C$85, implying approximately 8.1% upside, supporting its constructive outlook. BayStreet.CA Tickerreport.com
• Positive Sentiment: BMO Capital Markets increased its target to C$85 from C$72 and upgraded its view to “outperform,” indicating about 4.4% potential upside. BayStreet.CA
• Neutral Sentiment: Royal Bank of Canada raised its target to C$80 from C$71 but maintained a “sector perform” rating, suggesting little upside from recent levels. BayStreet.CA
• Negative Sentiment: National Bank Financial lifted its target to C$79 from C$69 while retaining a “sector perform” rating. The new target implies roughly 1.2% downside, potentially limiting enthusiasm after ATCO’s strong rally. BayStreet.CA

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