National Bank Financial Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its price objective hoisted by research analysts at National Bank Financial from C$62.00 to C$69.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 2.71% from the company’s previous close.

A number of other brokerages also recently commented on ACO.X. Scotia increased their target price on ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. BMO Capital Markets increased their target price on ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. TD Securities increased their target price on ATCO from C$57.00 to C$67.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Royal Bank Of Canada increased their target price on ATCO from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce increased their target price on ATCO from C$72.00 to C$82.00 in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$69.86.

ATCO Trading Down 1.2%

Shares of ACO.X stock traded down C$0.84 during trading on Monday, hitting C$67.18. 68,205 shares of the stock traded hands, compared to its average volume of 231,656. The firm has a market capitalization of C$6.78 billion, a P/E ratio of 48.33, a price-to-earnings-growth ratio of 3.80 and a beta of 0.46. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The firm’s fifty day moving average price is C$68.55 and its 200-day moving average price is C$62.19. ATCO has a 52-week low of C$47.52 and a 52-week high of C$72.37.

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