ATCO (TSE:ACO.X) Given New C$69.00 Price Target at CIBC

ATCO (TSE:ACO.X) had its price target hoisted by CIBC from C$68.00 to C$69.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 19.27% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. TD Securities lifted their price target 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. Royal Bank Of Canada boosted their target price on ATCO from C$53.00 to C$59.00 in a research note on Monday, November 10th. Scotiabank raised their price target on ATCO from C$56.00 to C$61.00 in a research report on Tuesday, December 16th. Finally, National Bankshares lifted their price objective on ATCO from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$60.00.

ATCO Trading Down 1.6%

ATCO stock traded down C$0.96 during midday trading on Wednesday, hitting C$57.85. 64,344 shares of the stock were exchanged, compared to its average volume of 164,991. The stock has a market capitalization of C$6.49 billion, a PE ratio of 15.10, a P/E/G ratio of 3.80 and a beta of 0.38. The company has a fifty day simple moving average of C$55.64 and a two-hundred day simple moving average of C$52.57. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. ATCO has a 52 week low of C$44.42 and a 52 week high of C$58.93.

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.