Royal Bank Of Canada Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its price objective hoisted by stock analysts at Royal Bank Of Canada from C$94.00 to C$99.00 in a research note issued on Monday, BayStreet reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 14.85% from the company’s current price.

Other analysts have also recently issued reports about the stock. Canadian Imperial Bank of Commerce lowered their target price on shares of ATCO from C$88.00 to C$85.00 in a research note on Tuesday, September 22nd. Scotiabank upped their price target on shares of ATCO from C$70.00 to C$79.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. BMO Capital Markets upped their price target on shares of ATCO from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, National Bank Financial increased their price objective on ATCO from C$93.00 to C$94.00 and gave the stock a “sector perform” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ATCO presently has an average rating of “Hold” and an average target price of C$82.71.

ATCO Price Performance

Shares of ATCO stock traded up C$0.90 on Monday, reaching C$86.20. The stock had a trading volume of 125,837 shares, compared to its average volume of 287,114. The business’s 50 day moving average is C$77.11 and its two-hundred day moving average is C$71.49. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63. ATCO has a 1 year low of C$52.48 and a 1 year high of C$86.67. The company has a market cap of C$8.70 billion, a P/E ratio of 53.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.27.

ATCO (TSE:ACO.X) last issued its quarterly earnings data on Friday, November 6th. The company reported C$1.00 EPS for the quarter. The company had revenue of C$1.33 billion during the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. As a group, research analysts anticipate that ATCO will post 4.20 EPS for the current year.

ATCO Company Profile

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 20,000 employees and assets of $28 billion. ATCO is focused on delivering essential solutions across the housing, energy and defence sectors, helping build, power and protect a future everyone can count on. ATCO Structures delivers innovative modular solutions that help communities address growing housing demand while supporting industry and economic growth. Canadian Utilities, an ATCO subsidiary, delivers safe and reliable energy services through its utilities, midstream and generation businesses.