CIBC Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its target price raised by equities research analysts at CIBC from C$67.00 to C$68.00 in a report released on Wednesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 22.63% from the stock’s previous close.

A number of other research analysts have also weighed in on ACO.X. Scotiabank lifted their target price on ATCO from C$56.00 to C$61.00 in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of ATCO from C$53.00 to C$59.00 in a report on Monday, November 10th. Finally, TD Securities increased their target price on shares of ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$59.80.

ATCO Stock Performance

ACO.X stock traded up C$0.57 during midday trading on Wednesday, reaching C$55.45. 72,934 shares of the company’s stock traded hands, compared to its average volume of 223,092. The firm has a market capitalization of C$6.22 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 3.80 and a beta of 0.38. The company has a 50-day moving average price of C$53.89 and a two-hundred day moving average price of C$51.60. ATCO has a 52 week low of C$44.42 and a 52 week high of C$57.09. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

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.