ATCO (TSE:ACO.X) Price Target Raised to C$62.00

Key Points

• Multiple analysts raised price targets — National Bank Financial bumped its target to C$62.00 (still a "sector perform"), while TD, RBC, BMO, CIBC and Scotia also lifted targets; the consensus price target is C$68.86 and the street rating is an overall "Hold".
• ATCO trades near C$67.93 with a market cap of C$7.64B and a high valuation (PE ~51.08); the company posted C$1.47 EPS for the quarter and analysts expect roughly C$4.20 EPS for the year, with a 52‑week range of C$47.52–C$72.37.

ATCO (TSE:ACO.X - Get Free Report) had its price target hoisted by stock analysts at National Bank Financial from C$57.00 to C$62.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. National Bank Financial's target price points to a potential downside of 8.73% from the company's current price.

Other research analysts have also issued reports about the stock. TD Securities lifted their price target on shares of ATCO from C$57.00 to C$67.00 and gave the company a "hold" rating in a report on Tuesday, March 3rd. Royal Bank Of Canada upped their price objective on ATCO from C$66.00 to C$71.00 and gave the company a "sector perform" rating in a report on Thursday. BMO Capital Markets increased their price objective on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce raised their price target on ATCO from C$72.00 to C$82.00 in a research note on Monday, April 20th. Finally, Scotia raised their price target on ATCO from C$67.00 to C$70.00 and gave the stock a "sector perform" rating in a research note on Thursday. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$68.86.

ATCO Stock Performance

Shares of ACO.X traded down C$0.21 during mid-day trading on Friday, hitting C$67.93. The stock had a trading volume of 56,333 shares, compared to its average volume of 237,650. The company has a market cap of C$7.64 billion, a PE ratio of 51.08, a PEG ratio of 3.80 and a beta of 0.46. The company's fifty day simple moving average is C$67.41 and its two-hundred day simple moving average is C$60.40. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. ATCO has a fifty-two week low of C$47.52 and a fifty-two week high of C$72.37.

ATCO (TSE:ACO.X - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported C$1.47 EPS for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%.The company had revenue of C$1.43 billion during the quarter. On average, equities analysts expect that ATCO will post 4.1980634 earnings per share 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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