ATCO (TSE:ACO.X) Price Target Raised to C$79.00 at National Bank Financial

Key Points

• National Bank Financial raised ATCO’s price target to C$79 from C$69 while maintaining a “sector perform” rating, implying approximately 1.32% downside from the stock’s C$80.06 price.
• Analyst sentiment remains cautious: ATCO has a consensus “Hold” rating, with one Buy and five Hold ratings and an average price target of C$78.29. Other firms’ targets range from C$79 to C$88.
• ATCO reported quarterly EPS of C$1.01, with an 8.54% return on equity and an 8.16% net margin. Shares remain near their 52-week high of C$81.41 and have risen above both their 50-day and 200-day moving averages.

ATCO (TSE:ACO.X - Get Free Report) had its price objective hoisted by equities researchers at National Bank Financial from C$69.00 to C$79.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. National Bank Financial's price target indicates a potential downside of 1.32% from the company's current price.

Other analysts have also recently issued reports about the stock. Scotiabank lifted their price objective on shares of ATCO from C$70.00 to C$79.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada increased their price objective 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. Scotia raised their target price 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. BMO Capital Markets boosted their target price on shares of ATCO from C$72.00 to C$85.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of ATCO from C$85.00 to C$88.00 in a report on Thursday. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$78.29.

ATCO Stock Performance

ACO.X traded down C$1.35 on Friday, reaching C$80.06. 75,310 shares of the stock were exchanged, compared to its average volume of 274,480. The company's 50-day moving average price is C$73.69 and its 200 day moving average price is C$68.06. 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 firm has a market capitalization of C$8.08 billion, a PE ratio of 57.60, a PEG ratio of 3.80 and a beta of 0.35. ATCO has a fifty-two week low of C$47.52 and a fifty-two week high of C$81.41.

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

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.

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