CIBC Cuts ATCO (TSE:ACO.X) Price Target to C$48.00

ATCO (TSE:ACO.X) had its price target cut by CIBC from C$49.00 to C$48.00 in a research report released on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of ATCO from C$45.00 to C$46.00 and gave the company a sector perform rating in a research note on Friday, March 1st. BMO Capital Markets boosted their price objective on ATCO from C$48.00 to C$49.00 and gave the company an outperform rating in a research report on Friday, March 1st. Finally, Scotiabank cut ATCO from an outperform rating to a sector perform rating and cut their target price for the stock from C$46.00 to C$43.00 in a research report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, ATCO has an average rating of Moderate Buy and an average target price of C$45.00.

ATCO Price Performance

TSE ACO.X opened at C$36.42 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.48 and a debt-to-equity ratio of 131.44. ATCO has a 12 month low of C$32.90 and a 12 month high of C$45.59. The stock has a market cap of C$3.63 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 3.80 and a beta of 0.68. The company’s 50 day moving average is C$37.32 and its two-hundred day moving average is C$37.24.

About ATCO

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.