CIBC Cuts ATCO (TSE:ACO.X) Price Target to C$58.00

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

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

ATCO Stock Up 0.4 %

ACO.X stock opened at C$48.55 on Friday. The business’s 50 day simple moving average is C$47.21 and its 200 day simple moving average is C$42.92. ATCO has a 1-year low of C$35.56 and a 1-year high of C$49.32. The firm has a market capitalization of C$4.84 billion, a PE ratio of 14.20, a PEG ratio of 3.80 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

Insider Activity at ATCO

In related news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of ATCO stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of C$48.50 per share, with a total value of C$48,500.00. Over the last three months, insiders have acquired 12,000 shares of company stock worth $569,150. Corporate insiders own 0.61% of the company’s stock.

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.