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

ATCO (TSE:ACO.X) had its target price trimmed by CIBC from C$59.00 to C$58.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Several other brokerages also recently commented on ACO.X. Scotiabank boosted their target price on ATCO from C$45.00 to C$49.00 in a research note on Friday. Royal Bank of Canada lifted their price target on shares of ATCO from C$50.00 to C$51.00 in a report on Friday. BMO Capital Markets increased their price objective on shares of ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Finally, National Bankshares raised their target price on shares of ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, ATCO currently has an average rating of “Hold” and an average price target of C$51.10.

ATCO Trading Up 0.4 %

Shares of ACO.X opened at C$48.55 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$49.32. The firm has a market cap of C$4.84 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 3.80 and a beta of 0.74. The business’s fifty day moving average is C$47.21 and its 200-day moving average is C$42.92.

Insider Activity

In other ATCO news, insider Sentgraf Enterprises Ltd. purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were bought at an average price of C$47.50 per share, for a total transaction of C$475,000.00. Insiders bought 12,000 shares of company stock valued at $569,150 over the last quarter. 0.61% of the stock is owned by company insiders.

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.