National Bank Financial Increases ATCO (TSE:ACO.X) Price Target to C$79.00

ATCO (TSE:ACO.X) had its price target boosted by investment analysts at National Bank Financial from C$69.00 to C$79.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential downside of 1.32% from the company’s previous close.

Other analysts have also issued reports about the company. BMO Capital Markets lifted their price target on ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotia raised their price target on shares of ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price objective on shares of ATCO from C$85.00 to C$88.00 in a research note on Thursday. Royal Bank Of Canada raised their target price on shares of ATCO from C$71.00 to C$80.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Scotiabank lifted their target price on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$78.29.

ATCO Price Performance

ACO.X traded down C$1.35 during midday trading on Friday, hitting C$80.06. 75,310 shares of the company traded hands, compared to its average volume of 274,480. ATCO has a 52-week low of C$47.52 and a 52-week high of C$81.41. 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 business has a 50 day simple moving average of C$73.69 and a two-hundred day simple moving average of C$68.06. The company has a market capitalization of C$8.08 billion, a price-to-earnings ratio of 57.60, a PEG ratio of 3.80 and a beta of 0.35.

ATCO (TSE:ACO.X) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. On average, equities analysts forecast that ATCO will post 4.1980634 earnings per share 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.