Canadian Imperial Bank of Commerce Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its target price raised by Canadian Imperial Bank of Commerce from C$72.00 to C$82.00 in a report issued on Monday morning,BayStreet.CA reports.

ACO.X has been the topic of a number of other reports. Royal Bank Of Canada upped their price target on shares of ATCO from C$59.00 to C$66.00 in a report on Friday, February 27th. BMO Capital Markets lifted their price objective on shares of ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. Finally, TD Securities boosted their price objective on shares of ATCO from C$57.00 to C$67.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, ATCO has an average rating of “Hold” and an average price target of C$66.50.

ATCO Price Performance

ACO.X opened at C$66.91 on Monday. The business has a fifty day moving average of C$66.21 and a 200 day moving average of C$59.12. ATCO has a 52-week low of C$47.52 and a 52-week high of C$72.37. 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 cap of C$7.53 billion, a P/E ratio of 50.31, a PEG ratio of 3.80 and a beta of 0.40.

ATCO (TSE:ACO.X) last released its earnings results on Thursday, February 26th. The company reported C$1.37 earnings per share for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%.The business had revenue of C$1.29 billion for the quarter. As a group, sell-side analysts anticipate that ATCO will post 4.1980634 EPS for the current 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.