Scotiabank Issues Positive Forecast for ATCO (TSE:ACO.X) Stock Price

ATCO (TSE:ACO.X) had its price target increased by Scotiabank from C$45.00 to C$49.00 in a report published on Friday,BayStreet.CA reports.

ACO.X has been the subject of several other research reports. CIBC raised their target price on ATCO from C$49.00 to C$51.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Royal Bank of Canada raised their price objective 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. National Bankshares boosted their target price on shares of ATCO from C$40.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets raised their target price on shares of ATCO from C$50.50 to C$52.50 in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$51.10.

ATCO Stock Performance

ACO.X stock traded up C$0.21 during trading on Friday, reaching C$48.55. 150,600 shares of the company’s stock were exchanged, compared to its average volume of 195,217. ATCO has a 1-year low of C$35.56 and a 1-year high of C$49.32. The firm has a market cap of C$4.84 billion, a PE ratio of 14.20, a P/E/G ratio of 3.80 and a beta of 0.74. The company’s fifty day moving average price is C$47.15 and its 200-day moving average price is C$42.83. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63.

Insider Activity

In related news, insider Sentgraf Enterprises Ltd. bought 10,000 shares of ATCO stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of C$47.50 per share, for a total transaction of C$475,000.00. Insiders bought a total of 12,000 shares of company stock worth $569,150 in the last three months. 0.61% of the stock is owned by insiders.

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.