Scotiabank Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

Key Points

• Scotiabank raised its price target for ATCO (TSE:ACO.X) from C$54.00 to C$55.00, indicating a potential upside of 8.93% from the current price.
• In contrast, TD Securities lowered its target price for ATCO to C$55.00 while maintaining a "hold" rating.
• The average target price among analysts for ATCO stock is C$56.25, reflecting a consensus rating of "Hold".

ATCO (TSE:ACO.X - Get Free Report) had its price objective increased by stock analysts at Scotiabank from C$54.00 to C$55.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target indicates a potential upside of 8.93% from the stock's current price.

Separately, TD Securities lowered their target price on shares of ATCO from C$56.00 to C$55.00 and set a "hold" rating on the stock in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$56.25.

ATCO Stock Performance

ATCO stock traded down C$0.13 during trading hours on Monday, reaching C$50.49. 45,155 shares of the stock were exchanged, compared to its average volume of 220,555. The stock has a market cap of C$5.68 billion, a P/E ratio of 12.91, a P/E/G ratio of 3.80 and a beta of 0.35. The firm's 50 day moving average is C$49.94 and its 200 day moving average is C$50.32. 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 52-week low of C$44.42 and a 52-week high of C$52.48.

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.

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