ATCO (TSE:ACO.X) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

ATCO (TSE:ACO.X) had its price objective hoisted by analysts at Royal Bank Of Canada from C$71.00 to C$80.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.11% from the stock’s previous close.

Several other equities analysts have also commented on ACO.X. National Bank Financial boosted their price target on ATCO from C$62.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on shares of ATCO from C$85.00 to C$88.00 in a research report on Thursday. Scotia lifted their price objective on shares of ATCO from C$67.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Finally, Scotiabank boosted 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 report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$76.86.

ATCO Stock Up 3.3%

TSE ACO.X traded up C$2.59 during trading hours on Thursday, hitting C$80.90. The company had a trading volume of 130,572 shares, compared to its average volume of 275,116. ATCO has a fifty-two week low of C$47.52 and a fifty-two week high of C$81.07. The company has a market capitalization of C$8.17 billion, a price-to-earnings ratio of 58.20, a P/E/G ratio of 3.80 and a beta of 0.35. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The firm’s 50 day moving average is C$73.48 and its 200 day moving average is C$67.88.

ATCO (TSE:ACO.X) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$1.01 EPS for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%. Sell-side analysts anticipate that ATCO will post 4.1980634 earnings per share for the current fiscal year.

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. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.