Canadian Imperial Bank of Commerce Has Lowered Expectations for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its price objective lowered by equities researchers at Canadian Imperial Bank of Commerce from C$88.00 to C$85.00 in a report issued on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 15.93% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BMO Capital Markets upped their price target on ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotiabank boosted their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada upped their target price on shares of ATCO from C$71.00 to C$80.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, National Bank Financial increased their target price on shares of ATCO from C$69.00 to C$79.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$77.86.

ATCO Stock Up 0.5%

Shares of ATCO stock traded up C$0.34 during trading on Tuesday, hitting C$73.32. 62,858 shares of the stock were exchanged, compared to its average volume of 269,148. 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 firm’s 50-day moving average price is C$75.65 and its 200 day moving average price is C$71.75. The stock has a market cap of C$8.25 billion, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 3.80 and a beta of 0.28. ATCO has a 12-month low of C$48.06 and a 12-month high of C$81.41.

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

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.