CIBC Raises ATCO (TSE:ACO.X) Price Target to C$51.00

ATCO (TSE:ACO.X) had its target price increased by CIBC from C$49.00 to C$51.00 in a research report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on ACO.X. Scotiabank upped their price objective on shares of ATCO from C$41.00 to C$43.00 and gave the stock a sector perform rating in a research note on Monday, May 13th. Royal Bank of Canada upped their target price on shares of ATCO from C$46.00 to C$47.00 and gave the stock a sector perform rating in a research report on Tuesday. BMO Capital Markets upped their target price on shares of ATCO from C$50.00 to C$50.50 in a research report on Friday, May 10th. Finally, National Bankshares upped their target price on shares of ATCO from C$38.00 to C$39.00 in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of C$46.58.

ATCO Price Performance

Shares of ATCO stock opened at C$43.37 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a market capitalization of C$4.33 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 3.80 and a beta of 0.73. ATCO has a 1-year low of C$32.90 and a 1-year high of C$43.88. The firm’s 50-day moving average price is C$40.15 and its two-hundred day moving average price is C$38.71.

Insider Activity at ATCO

In other ATCO news, insider Sentgraf Enterprises Ltd. acquired 59,200 shares of ATCO stock in a transaction on Friday, June 21st. The shares were purchased at an average cost of C$42.00 per share, with a total value of C$2,486,400.00. In other ATCO news, Senior Officer James Landon sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$43.56, for a total value of C$56,628.00. Also, insider Sentgraf Enterprises Ltd. acquired 59,200 shares of ATCO stock in a transaction on Friday, June 21st. The stock was acquired at an average cost of C$42.00 per share, for a total transaction of C$2,486,400.00. 0.61% of the stock is currently owned by company insiders.

ATCO Company Profile

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.