Canadian Imperial Bank of Commerce Boosts ATCO (TSE:ACO.X) Price Target to C$82.00

Key Points

• CIBC raised its target on ATCO from C$72.00 to C$82.00, implying roughly a 22.17% upside from the prior close.
• Other firms (BMO, RBC, TD) also increased targets, but the MarketBeat consensus remains a "Hold" with a consensus price target of C$66.50.
• ATCO shares traded at C$67.12 (down 1.1%), below CIBC's target; the company has a market cap of C$7.55 billion and a relatively high trailing P/E of 50.47 after reporting C$1.37 EPS and C$1.29 billion revenue for the quarter.

ATCO (TSE:ACO.X - Get Free Report) had its target price hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$72.00 to C$82.00 in a research note issued to investors on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price indicates a potential upside of 22.17% from the stock's previous close.

A number of other analysts have also weighed in on the stock. BMO Capital Markets upped their target price on shares of ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Royal Bank Of Canada increased their price target on shares of ATCO from C$59.00 to C$66.00 in a research note on Friday, February 27th. Finally, TD Securities increased their price target on shares of ATCO from C$57.00 to C$67.00 and gave the company a "hold" rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$66.50.

ATCO Stock Down 1.1%

Shares of ACO.X stock traded down C$0.73 during trading hours on Monday, reaching C$67.12. 68,666 shares of the stock were exchanged, compared to its average volume of 249,747. The business's fifty day moving average is C$66.05 and its two-hundred day moving average is C$59.01. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. ATCO has a 12-month low of C$47.52 and a 12-month high of C$72.37. The firm has a market capitalization of C$7.55 billion, a P/E ratio of 50.47, a P/E/G ratio of 3.80 and a beta of 0.40.

ATCO (TSE:ACO.X - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported C$1.37 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The firm had revenue of C$1.29 billion for the quarter. As a group, research analysts expect 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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