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

ATCO (TSE:ACO.X) had its price objective lifted by Scotiabank from C$49.00 to C$51.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

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

ATCO Price Performance

Shares of TSE ACO.X opened at C$47.70 on Thursday. 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 fifty-two week low of C$35.56 and a fifty-two week high of C$50.67. The firm has a market capitalization of C$4.76 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The stock’s 50-day simple moving average is C$47.20 and its 200-day simple moving average is C$46.49.

Insiders Place Their Bets

In related news, Director Dawn Lorraine Farrell bought 10,550 shares of the stock in a transaction on Friday, January 3rd. The shares were bought at an average cost of C$47.36 per share, for a total transaction of C$499,689.15. Also, insider Sentgraf Enterprises Ltd. bought 7,400 shares of the stock in a transaction on Friday, December 6th. The stock was bought at an average price of C$49.00 per share, for a total transaction of C$362,600.00. Insiders have bought a total of 22,950 shares of company stock valued at $1,108,539 over the last quarter. Company insiders own 0.61% of the company’s stock.

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.