Scotiabank Boosts ATCO (TSE:ACO.X) Price Target to C$49.00

ATCO (TSE:ACO.X) had its target price boosted by stock analysts at Scotiabank from C$45.00 to C$49.00 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 1.53% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of ATCO from C$47.00 to C$50.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. National Bankshares increased their price objective on ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. BMO Capital Markets increased their price objective on ATCO from C$50.50 to C$52.50 in a report on Thursday, September 5th. Finally, CIBC upped their target price on ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$51.10.

ATCO Trading Down 0.2 %

ACO.X stock traded down C$0.08 during trading on Friday, hitting C$48.26. The company had a trading volume of 42,016 shares, compared to its average volume of 194,728. ATCO has a fifty-two week low of C$35.56 and a fifty-two week high of C$49.32. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The company has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The firm has a 50 day moving average price of C$47.08.

Insider Activity

In other news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of ATCO stock in a transaction dated Monday, September 23rd. The shares were bought at an average price of C$45.65 per share, for a total transaction of C$45,650.00. In the last quarter, insiders have bought 12,000 shares of company stock worth $569,150. Corporate insiders own 0.61% of the company’s stock.

ATCO Company Profile

ATCO Ltd., together with its subsidiaries, engages in the provision of energy, logistics and transportation, water, food and agriculture, real estate, and shelter services in Canada, Australia, and internationally. The company engages in the electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and whole-home solutions.