ATCO (TSE:ACO.X) Price Target Raised to C$80.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised ATCO’s price target to C$80 from C$71 while maintaining a “sector perform” rating, implying about 1.1% downside from the stock’s current price.
• Analyst sentiment remains cautious: ATCO has one Buy and five Hold ratings, with a consensus rating of “Hold” and an average price target of C$76.86.
• ATCO shares rose 3.3% to C$80.90, near their 12-month high of C$81.07. The company recently reported quarterly EPS of C$1.01, while analysts expect full-year EPS of approximately C$4.20.

ATCO (TSE:ACO.X - Get Free Report) had its price target hoisted by stock analysts at Royal Bank Of Canada from C$71.00 to C$80.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential downside of 1.11% from the stock's current price.

Several other equities research analysts have also recently issued reports on ACO.X. Canadian Imperial Bank of Commerce raised their target price on shares of ATCO from C$85.00 to C$88.00 in a research report on Thursday. Scotiabank upped their price target on shares of 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. National Bank Financial increased their price target on shares of ATCO from C$62.00 to C$69.00 and gave the stock a "sector perform" rating in a research note on Monday, June 1st. Finally, Scotia lifted their price target on shares of ATCO from C$67.00 to C$70.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$76.86.

ATCO Trading Up 3.3%

TSE ACO.X traded up C$2.59 during trading hours on Thursday, hitting C$80.90. 130,572 shares of the company's stock were exchanged, compared to its average volume of 275,116. The business's 50 day moving average is C$73.48 and its 200-day moving average is C$67.88. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. ATCO has a 12-month low of C$47.52 and a 12-month high of C$81.07. The firm has a market capitalization of C$8.17 billion, a P/E ratio of 58.20, a price-to-earnings-growth ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. As a group, analysts anticipate 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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