ATCO (TSE:ACO.X) Price Target Raised to C$85.00

Key Points

• BMO Capital Markets raised ATCO’s price target to C$85 from C$72 and maintained an “outperform” rating, implying 5.07% potential upside from the prior close.
• Other analysts also increased their targets, but sentiment remains cautious: five analysts rate ATCO “Hold” and one rates it “Buy,” producing a consensus “Hold” rating and average target of C$76.86.
• ATCO shares traded at C$80.90, near their 52-week high of C$81.07. The company reported quarterly EPS of C$1.01, with an 8.16% net margin and 8.54% return on equity.

ATCO (TSE:ACO.X - Get Free Report) had its price target upped by analysts at BMO Capital Markets from C$72.00 to C$85.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price objective points to a potential upside of 5.07% from the stock's previous close.

Several other research firms have also recently weighed in on ACO.X. National Bank Financial lifted their price target on ATCO from C$62.00 to C$69.00 and gave the stock a "sector perform" rating in a report on Monday, June 1st. Scotia upped their price objective on ATCO from C$67.00 to C$70.00 and gave the company a "sector perform" rating in a report on Thursday, May 7th. Scotiabank increased their price objective 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 lifted their target price on ATCO from C$71.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of ATCO from C$85.00 to C$88.00 in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$76.86.

ATCO Stock Performance

Shares of ACO.X stock traded up C$2.59 during midday trading on Thursday, hitting C$80.90. 130,572 shares of the company were exchanged, compared to its average volume of 275,116. ATCO has a 52 week low of C$47.52 and a 52 week high of C$81.07. The firm has a market capitalization of C$8.17 billion, a P/E ratio of 58.20, a PEG ratio of 3.80 and a beta of 0.35. The firm's 50 day moving average price is C$73.48 and its two-hundred day moving average price 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 (TSE:ACO.X - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, equities research analysts anticipate that ATCO will post 4.1980634 earnings per share for the current 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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