Scotiabank Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its price target upped by analysts at Scotiabank from C$45.00 to C$49.00 in a research note issued on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 1.53% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of ATCO from C$47.00 to C$50.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. BMO Capital Markets boosted their target price on shares of ATCO from C$50.50 to C$52.50 in a report on Thursday, September 5th. CIBC boosted their target price on shares of ATCO from C$49.00 to C$51.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Finally, National Bankshares boosted their target price on shares of ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$51.10.

ATCO Stock Performance

TSE ACO.X traded down C$0.08 on Friday, reaching C$48.26. 42,016 shares of the company’s stock traded hands, compared to its average volume of 194,728. The stock has a market cap of C$4.81 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 3.80 and a beta of 0.74. The business has a 50 day moving average of C$47.08. ATCO has a fifty-two week low of C$35.56 and a fifty-two week high of C$49.32. The company has a debt-to-equity ratio of 131.63, a quick ratio of 1.48 and a current ratio of 1.42.

Insider Activity at ATCO

In related news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average cost of C$45.65 per share, with a total value of C$45,650.00. Insiders purchased 12,000 shares of company stock worth $569,150 over the last 90 days. Company 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.