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

ATCO (TSE:ACO.X) had its price objective lifted by Scotiabank from C$56.00 to C$61.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 9.63% from the stock’s current price.

Several other equities research analysts also recently weighed in on ACO.X. CIBC increased their price target on ATCO from C$64.00 to C$67.00 in a research report on Monday, November 10th. Royal Bank Of Canada lifted their price target on ATCO from C$53.00 to C$59.00 in a research report on Monday, November 10th. Finally, TD Securities upped their price objective on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, ATCO currently has an average rating of “Hold” and a consensus price target of C$59.80.

ATCO Stock Up 1.4%

TSE:ACO.X opened at C$55.64 on Tuesday. 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 company’s fifty day moving average price is C$53.99 and its 200-day moving average price is C$51.63. ATCO has a 1-year low of C$44.42 and a 1-year high of C$57.09. The firm has a market capitalization of C$6.24 billion, a P/E ratio of 14.53, a PEG ratio of 3.80 and a beta of 0.38.

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.