Royal Bank of Canada Forecasts Strong Price Appreciation for ATCO (TSE:ACO.X) Stock

ATCO (TSE:ACO.X) had its price target boosted by equities researchers at Royal Bank of Canada from C$50.00 to C$51.00 in a research note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 5.72% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Scotiabank boosted their price target on ATCO from C$45.00 to C$49.00 in a report on Friday. CIBC upped their price target on ATCO from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. National Bankshares upped their target price on ATCO from C$40.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Finally, 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$51.10.

ATCO Trading Down 0.2 %

Shares of TSE:ACO.X traded down C$0.10 during trading on Friday, reaching C$48.24. The company’s stock had a trading volume of 52,416 shares, compared to its average volume of 194,775. 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 company’s 50 day moving average price is C$47.08. The stock has a market cap of C$4.81 billion, a PE ratio of 14.11, a PEG ratio of 3.80 and a beta of 0.74.

Insider Buying and Selling at ATCO

In related news, insider Sentgraf Enterprises Ltd. purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of C$45.65 per share, for a total transaction of C$45,650.00. Insiders acquired 12,000 shares of company stock valued at $569,150 in the last 90 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.