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

ATCO (TSE:ACO.X) had its target price dropped by stock analysts at CIBC from C$59.00 to C$58.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 20.23% from the company’s current price.

Other analysts also recently issued research reports about the stock. National Bankshares increased 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. Scotiabank lifted their price target on ATCO from C$45.00 to C$49.00 in a research note on Friday. Royal Bank of Canada increased their price objective on ATCO from C$50.00 to C$51.00 in a research note on Friday. Finally, BMO Capital Markets raised their price target on ATCO from C$50.50 to C$52.50 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$51.10.

ATCO Trading Down 0.2 %

TSE ACO.X traded down C$0.10 on Friday, hitting C$48.24. 52,416 shares of the company were exchanged, compared to its average volume of 194,775. ATCO has a 12 month low of C$35.56 and a 12 month high of C$49.32. The stock’s fifty day moving average is C$47.08. 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 stock has a market capitalization of C$4.81 billion, a P/E ratio of 14.11, a PEG ratio of 3.80 and a beta of 0.74.

Insider Buying and Selling

In other news, insider Sentgraf Enterprises Ltd. acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of C$48.50 per share, with a total value of C$48,500.00. In the last three months, insiders have acquired 12,000 shares of company stock valued at $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.