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

ATCO (TSE:ACO.X) had its target price upped by CIBC from C$59.00 to C$62.00 in a research report released on Friday morning,BayStreet.CA reports.

Separately, Scotiabank increased their price objective on shares of ATCO from C$49.00 to C$51.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$52.30.

ATCO Stock Performance

ACO.X opened at C$50.21 on Friday. 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$35.56 and a 52-week high of C$51.67. The firm has a market cap of C$5.01 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The business’s fifty day moving average is C$47.97 and its 200-day moving average is C$47.77.

Insider Transactions at ATCO

In related news, Senior Officer James Landon sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of C$49.80, for a total value of C$49,800.00. In the last quarter, insiders sold 2,100 shares of company stock valued at $103,044. Corporate insiders own 0.61% of the company’s stock.

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.