ATCO (TSE:ACO.X) Stock Price Expected to Rise, Scotiabank Analyst Says

ATCO (TSE:ACO.X) had its price objective upped by equities research analysts at Scotiabank from C$70.00 to C$79.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 0.51% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Scotia boosted their price objective on shares of ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. National Bank Financial raised their target price on ATCO from C$62.00 to C$69.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce raised their price objective on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Finally, Royal Bank Of Canada lifted their price objective 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$72.43.

ATCO Trading Up 0.7%

Shares of ACO.X opened at C$78.60 on Tuesday. ATCO has a 12 month low of C$47.52 and a 12 month high of C$79.00. The stock’s 50-day moving average is C$72.54 and its two-hundred day moving average is C$67.09. 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 stock has a market cap of C$7.94 billion, a PE ratio of 56.55, a P/E/G ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X) last released its quarterly earnings results 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. Equities analysts forecast that ATCO will post 4.1980634 earnings per share for the current fiscal year.

About ATCO

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.