Scotiabank Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its price objective raised by equities researchers at Scotiabank from C$70.00 to C$79.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 1.32% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Scotia increased their price target on ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. National Bank Financial upped their price objective on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their target price 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 target price on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$72.43.

ATCO Price Performance

Shares of ACO.X traded up C$0.36 during mid-day trading on Tuesday, hitting C$77.97. 53,564 shares of the company traded hands, compared to its average volume of 278,040. ATCO has a one year low of C$47.52 and a one year high of C$79.00. 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 business has a 50-day moving average of C$72.15 and a 200 day moving average of C$66.78. The stock has a market capitalization of C$7.87 billion, a price-to-earnings ratio of 56.09, a PEG ratio of 3.80 and a beta of 0.35.

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