ATCO (TSE:ACO.X) Price Target Raised to C$59.00

ATCO (TSE:ACO.X) had its target price boosted by investment analysts at CIBC from C$58.00 to C$59.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 26.50% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Scotiabank lifted their target price on ATCO from C$49.00 to C$51.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Royal Bank of Canada increased their target price on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$51.70.

ATCO Stock Performance

Shares of ACO.X traded up C$0.14 during mid-day trading on Friday, reaching C$46.64. 100,292 shares of the company’s stock traded hands, compared to its average volume of 208,412. ATCO has a 12 month low of C$35.56 and a 12 month high of C$50.67. The stock has a market capitalization of C$4.65 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The business’s 50-day moving average price is C$47.10 and its 200-day moving average price is C$46.99. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insider Buying and Selling at ATCO

In other news, insider Sentgraf Enterprises Ltd. acquired 5,000 shares of the stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of C$49.25 per share, with a total value of C$246,250.00. Also, Director Dawn Lorraine Farrell purchased 10,550 shares of ATCO stock in a transaction that occurred on Friday, January 3rd. The shares were acquired at an average price of C$47.36 per share, for a total transaction of C$499,689.15. Over the last quarter, insiders have bought 22,950 shares of company stock valued at $1,108,539. 0.61% of the stock is currently owned by insiders.

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.