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

ATCO (TSE:ACO.X) had its price objective increased by investment analysts at CIBC from C$58.00 to C$59.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 26.50% from the company’s current price.

Several other brokerages have also recently weighed in on ACO.X. Royal Bank of Canada upped their target price on ATCO from C$50.00 to C$51.00 in a report on Friday, November 15th. Scotiabank upped their price target on shares of ATCO from C$49.00 to C$51.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Three equities 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 company has a consensus rating of “Hold” and an average target price of C$51.70.

ATCO Trading Up 0.3 %

ACO.X stock traded up C$0.14 during midday trading on Friday, reaching C$46.64. The company’s stock had a trading volume of 100,292 shares, compared to its average volume of 208,412. The firm has a market capitalization of C$4.65 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.80 and a beta of 0.74. ATCO has a 1 year low of C$35.56 and a 1 year high of C$50.67. 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 fifty day simple moving average of C$47.10 and a two-hundred day simple moving average of C$46.99.

Insider Buying and Selling at ATCO

In other news, insider Sentgraf Enterprises Ltd. bought 5,000 shares of ATCO stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of C$49.25 per share, with a total value of C$246,250.00. Also, Director Dawn Lorraine Farrell acquired 10,550 shares of the stock in a transaction on Friday, January 3rd. The shares were acquired at an average cost of C$47.36 per share, for a total transaction of C$499,689.15. Insiders have purchased 22,950 shares of company stock valued at $1,108,539 over the last 90 days. 0.61% of the stock is owned by insiders.

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.