ATCO Ltd. (TSE:ACO.X – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Thursday after National Bank Financial raised their price target on the stock from C$69.00 to C$79.00. National Bank Financial currently has a sector perform rating on the stock. ATCO traded as high as C$80.91 and last traded at C$80.16, with a volume of 34915 shares trading hands. The stock had previously closed at C$78.31.
ACO.X has been the subject of a number of other reports. Canadian Imperial Bank of Commerce lifted their price objective on shares of ATCO from C$85.00 to C$88.00 in a research note on Thursday. Scotia upped their target price on shares of ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. BMO Capital Markets increased their price target on shares of ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a report on Thursday. Scotiabank lifted their price target on 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. Finally, Royal Bank Of Canada boosted their price objective on ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$78.29.
Read Our Latest Research Report on ATCO
ATCO News Roundup
- 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 Price Performance
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 company has a market capitalization of C$8.06 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35. The firm’s 50 day simple moving average is C$73.85 and its 200 day simple moving average is C$68.14.
ATCO (TSE:ACO.X – Get Free Report) last announced its earnings results 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%. As a group, research analysts anticipate that ATCO Ltd. will post 4.1980634 EPS 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.
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