Royal Bank Of Canada Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its target price boosted by Royal Bank Of Canada from C$59.00 to C$66.00 in a research report released on Friday morning,BayStreet.CA reports.

Several other equities analysts also recently issued reports on the stock. National Bank Financial upped their price objective on shares of ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. TD Securities boosted their target price on shares of ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Canadian Imperial Bank of Commerce upped their price target on shares of ATCO from C$68.00 to C$69.00 in a research note on Wednesday, January 21st. Finally, Scotiabank lifted their price objective on shares of ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$62.67.

ATCO Stock Up 3.1%

ATCO stock traded up C$1.92 during midday trading on Friday, reaching C$64.86. The company’s stock had a trading volume of 447,559 shares, compared to its average volume of 231,802. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The stock has a market capitalization of C$7.27 billion, a P/E ratio of 16.93, a PEG ratio of 3.80 and a beta of 0.46. The stock’s 50-day simple moving average is C$59.01 and its 200-day simple moving average is C$54.51. ATCO has a 52-week low of C$46.45 and a 52-week high of C$65.34.

About ATCO

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.