TD Securities Cuts ATCO (TSE:ACO.X) Price Target to C$55.00

Key Points

• TD Securities has reduced ATCO's price target from C$56.00 to C$55.00, maintaining a "hold" rating for the stock.
• In contrast, CIBC raised their price target for ATCO from C$59.00 to C$62.00, showing mixed analyst perspectives on the stock's future value.
• ATCO shares saw a 1.3% increase in trading, reaching C$50.84, with a market capitalization of C$5.07 billion.

ATCO (TSE:ACO.X - Get Free Report) had its target price cut by research analysts at TD Securities from C$56.00 to C$55.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price objective indicates a potential upside of 8.18% from the stock's previous close.

Several other analysts have also commented on the stock. CIBC increased their price target on shares of ATCO from C$59.00 to C$62.00 in a research report on Friday, April 4th. Royal Bank Of Canada increased their price target on shares of ATCO from C$51.00 to C$53.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, ATCO has an average rating of "Hold" and an average price target of C$53.08.

ATCO Trading Up 1.3%

Shares of TSE ACO.X traded up C$0.66 during mid-day trading on Friday, reaching C$50.84. The company had a trading volume of 76,987 shares, compared to its average volume of 215,930. The business's 50-day moving average is C$51.02 and its 200-day moving average is C$49.49. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. The stock has a market cap of C$5.07 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. ATCO has a 52 week low of C$42.48 and a 52 week high of C$52.48.

Insider Activity

In other news, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of C$51.40, for a total transaction of C$77,100.00. Also, Senior Officer James Armstrong sold 781 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of C$51.40, for a total transaction of C$40,143.40. Following the sale, the insider directly owned 101 shares in the company, valued at C$5,191.40. This represents a 88.55% decrease in their position. In the last quarter, insiders have sold 2,357 shares of company stock valued at $121,090. 0.61% of the stock is currently owned by insiders.

About ATCO

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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