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

ATCO (TSE:ACO.X) had its price objective lifted by Scotiabank from C$45.00 to C$49.00 in a report released on Friday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 0.93% from the company’s previous close.

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

ATCO Stock Performance

ACO.X opened at C$48.55 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. ATCO has a 12-month low of C$35.56 and a 12-month high of C$49.32. The business has a 50 day moving average of C$47.21 and a 200-day moving average of C$42.87. The stock has a market cap of C$4.84 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 3.80 and a beta of 0.74.

Insider Buying and Selling

In related news, insider Sentgraf Enterprises Ltd. bought 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of C$48.50 per share, with a total value of C$48,500.00. Insiders have acquired a total of 12,000 shares of company stock worth $569,150 in the last ninety 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.