ATCO (TSE:ACO.X) Price Target Raised to C$51.00

ATCO (TSE:ACO.X) had its target price increased by stock analysts at Scotiabank from C$49.00 to C$51.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 6.56% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada boosted their target price on ATCO from C$50.00 to C$51.00 in a research note on Friday, November 15th. CIBC cut their price target on ATCO from C$59.00 to C$58.00 in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$51.50.

ATCO Price Performance

ATCO stock traded up C$0.15 during midday trading on Thursday, hitting C$47.86. 56,503 shares of the company’s stock were exchanged, compared to its average volume of 199,510. The stock has a 50-day moving average price of C$47.20 and a two-hundred day moving average price of C$46.49. The company has a market cap of C$4.77 billion, a P/E ratio of 13.99, a PEG ratio of 3.80 and a beta of 0.74. 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$50.67.

Insider Activity at ATCO

In related news, insider Sentgraf Enterprises Ltd. bought 7,400 shares of the stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of C$49.00 per share, for a total transaction of C$362,600.00. Also, Director Dawn Lorraine Farrell acquired 10,550 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was acquired at an average price of C$47.36 per share, with a total value of C$499,689.15. Over the last ninety days, insiders purchased 22,950 shares of company stock worth $1,108,539. 0.61% of the stock is owned by corporate 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.