ATCO (TSE:ACO.X) Price Target Lowered to C$85.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce lowered ATCO’s price target to C$85 from C$88 while maintaining its outlook, implying 15.93% upside from the prior close.
• Analyst sentiment remains cautious: ATCO has one Buy rating and five Holds, resulting in a consensus “Hold” rating and an average target price of C$77.86.
• ATCO shares rose 0.5% to C$73.32 in mid-day trading, while the company recently reported quarterly EPS of C$1.01, an 8.16% net margin, and an 8.54% return on equity.

ATCO (TSE:ACO.X - Get Free Report) had its price target cut by investment analysts at Canadian Imperial Bank of Commerce from C$88.00 to C$85.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 15.93% from the company's previous close.

A number of other equities analysts also recently issued reports on ACO.X. Scotiabank increased their price target on ATCO from C$70.00 to C$79.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada raised their target price on shares of ATCO from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. National Bank Financial boosted their target price on ATCO from C$69.00 to C$79.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. Finally, BMO Capital Markets upped their price target on ATCO from C$72.00 to C$85.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$77.86.

ATCO Stock Up 0.5%

Shares of ACO.X stock traded up C$0.34 during mid-day trading on Tuesday, hitting C$73.32. 62,858 shares of the stock traded hands, compared to its average volume of 269,148. ATCO has a 52-week low of C$48.06 and a 52-week high of C$81.41. The stock has a market cap of C$8.25 billion, a P/E ratio of 45.82, a P/E/G ratio of 3.80 and a beta of 0.28. 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's fifty day moving average is C$75.65 and its two-hundred day moving average is C$71.75.

ATCO (TSE:ACO.X - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. Equities analysts predict that ATCO will post 4.1980634 EPS for the current 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.

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