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

ATCO (TSE:ACO.X) had its target price upped by analysts at Scotiabank from C$49.00 to C$51.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 6.56% from the stock’s current price.

ACO.X has been the subject of several other research reports. CIBC cut their price target on ATCO from C$59.00 to C$58.00 in a research note on Friday, November 15th. Royal Bank of Canada raised their price objective on ATCO from C$50.00 to C$51.00 in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, ATCO currently has an average rating of “Hold” and an average target price of C$51.50.

ATCO Stock Performance

Shares of ATCO stock traded up C$0.15 on Thursday, hitting C$47.86. The stock had a trading volume of 56,503 shares, compared to its average volume of 199,510. The company’s 50 day moving average price is C$47.20 and its 200 day moving average price is C$46.49. ATCO has a 52-week low of C$35.56 and a 52-week high of C$50.67. The stock has a market cap of C$4.77 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 3.80 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.48 and a debt-to-equity ratio of 131.63.

Insiders Place Their Bets

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