ATCO (TSE:ACO.X) Given New C$79.00 Price Target at Scotiabank

ATCO (TSE:ACO.X) had its price objective hoisted by Scotiabank from C$70.00 to C$79.00 in a report published on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

ACO.X has been the subject of several other research reports. Scotia raised their target price on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. National Bank Financial upped their price target on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Finally, Royal Bank Of Canada raised their price objective on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ATCO currently has a consensus rating of “Hold” and a consensus price target of C$72.43.

ATCO Stock Up 0.6%

Shares of TSE:ACO.X opened at C$78.09 on Tuesday. The firm has a 50 day simple moving average of C$72.35 and a 200 day simple moving average of C$66.94. ATCO has a 52 week low of C$47.52 and a 52 week high of C$79.00. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company has a market cap of C$7.88 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.47 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The firm had revenue of C$1.43 billion for the quarter. As a group, research analysts expect that ATCO will post 4.1980634 earnings per share for the current 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.