Royal Bank Of Canada Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its price objective upped by research analysts at Royal Bank Of Canada from C$59.00 to C$66.00 in a research report issued on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price target would suggest a potential upside of 2.01% from the company’s current price.

Other analysts have also issued research reports about the stock. TD Securities lifted their target price on shares of ATCO from C$55.00 to C$57.00 and gave the company a “hold” rating in a research report on Tuesday, November 11th. National Bank Financial lifted their price objective on ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Scotiabank boosted their price objective on ATCO from C$56.00 to C$61.00 in a research note on Tuesday, December 16th. Finally, Canadian Imperial Bank of Commerce increased their target price on ATCO from C$68.00 to C$69.00 in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$62.67.

ATCO Price Performance

Shares of TSE:ACO.X traded up C$1.76 during midday trading on Friday, reaching C$64.70. 132,291 shares of the company’s stock traded hands, compared to its average volume of 223,835. The company has a fifty day simple moving average of C$58.81 and a two-hundred day simple moving average of C$54.41. ATCO has a 1 year low of C$46.45 and a 1 year high of C$65.34. The company has a market cap of C$7.25 billion, a P/E ratio of 16.89, a PEG ratio of 3.80 and a beta of 0.46. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

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.