National Bank Financial Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its target price lifted by equities researchers at National Bank Financial from C$62.00 to C$69.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 2.71% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ACO.X. TD Securities upped their price objective on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. BMO Capital Markets boosted their target price on ATCO from C$63.00 to C$69.00 in a research note on Friday, February 27th. Scotia increased their target price on ATCO from C$67.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their target price on ATCO from C$72.00 to C$82.00 in a research report on Monday, April 20th. Finally, Royal Bank Of Canada increased their target price on ATCO from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATCO currently has a consensus rating of “Hold” and a consensus target price of C$69.86.

ATCO Price Performance

ATCO stock traded down C$0.84 during midday trading on Monday, hitting C$67.18. 68,205 shares of the company’s stock were exchanged, compared to its average volume of 231,656. ATCO has a 52-week low of C$47.52 and a 52-week high of C$72.37. The stock has a 50-day moving average price of C$68.55 and a two-hundred day moving average price of C$62.19. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42. The company has a market cap of C$6.78 billion, a P/E ratio of 48.33, a PEG ratio of 3.80 and a beta of 0.46.

ATCO (TSE:ACO.X) last posted its earnings results on Wednesday, May 6th. The company reported C$1.47 EPS for the quarter. ATCO had a return on equity of 8.54% and a net margin of 8.16%.The business had revenue of C$1.43 billion during the quarter. On average, equities research analysts forecast that ATCO will post 4.1980634 earnings per share for the current year.

ATCO Company Profile

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. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.