ATCO (TSE:ACO.X) Price Target Raised to C$85.00

ATCO (TSE:ACO.X) had its price objective upped by analysts at BMO Capital Markets from C$72.00 to C$85.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 5.07% from the company’s current price.

ACO.X has been the topic of several other research reports. Scotiabank upped their target price on ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on ATCO from C$71.00 to C$80.00 and gave the company a “sector perform” rating in a research note on Thursday. Scotia increased their price target on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. National Bank Financial raised their price objective on shares of ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of ATCO from C$85.00 to C$88.00 in a research report on Thursday. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ATCO presently has a consensus rating of “Hold” and an average target price of C$76.86.

ATCO Price Performance

Shares of ACO.X stock traded up C$2.59 on Thursday, reaching C$80.90. The company had a trading volume of 130,572 shares, compared to its average volume of 275,116. The business’s 50-day moving average is C$73.48 and its 200 day moving average is C$67.88. ATCO has a one year low of C$47.52 and a one year high of C$81.07. 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 has a market capitalization of C$8.17 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35.

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

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.