CIBC Raises ATCO (TSE:ACO.X) Price Target to C$69.00

ATCO (TSE:ACO.X) had its price objective boosted by equities researchers at CIBC from C$68.00 to C$69.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 18.84% from the company’s previous close.

A number of other equities analysts have also recently weighed in on ACO.X. National Bankshares lifted their price target on shares of ATCO from C$51.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. TD Securities raised their price objective on ATCO from C$55.00 to C$57.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Royal Bank Of Canada lifted their target price on ATCO from C$53.00 to C$59.00 in a report on Monday, November 10th. Finally, Scotiabank increased their price target on ATCO from C$56.00 to C$61.00 in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$60.00.

ATCO Stock Up 0.5%

ATCO stock opened at C$58.06 on Wednesday. The firm has a market capitalization of C$6.51 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.80 and a beta of 0.38. The company’s 50 day simple moving average is C$55.69 and its 200 day simple moving average is C$52.64. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. ATCO has a fifty-two week low of C$44.42 and a fifty-two week high of C$58.93.

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.