Canadian Imperial Bank of Commerce Boosts ATCO (TSE:ACO.X) Price Target to C$82.00

ATCO (TSE:ACO.X) had its target price boosted by analysts at Canadian Imperial Bank of Commerce from C$72.00 to C$82.00 in a research note issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 22.17% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada upped their target price on shares of ATCO from C$59.00 to C$66.00 in a report on Friday, February 27th. BMO Capital Markets upped their target price on shares of ATCO from C$63.00 to C$69.00 in a report on Friday, February 27th. Finally, TD Securities increased their price target on ATCO from C$57.00 to C$67.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$66.50.

ATCO Stock Performance

Shares of ACO.X traded down C$0.73 during mid-day trading on Monday, reaching C$67.12. 68,666 shares of the company’s stock were exchanged, compared to its average volume of 249,747. The business’s fifty day simple moving average is C$66.05 and its 200-day simple moving average is C$59.01. ATCO has a 52-week low of C$47.52 and a 52-week high of C$72.37. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. The stock has a market capitalization of C$7.55 billion, a PE ratio of 50.47, a price-to-earnings-growth ratio of 3.80 and a beta of 0.40.

ATCO (TSE:ACO.X) last announced its earnings results on Thursday, February 26th. The company reported C$1.37 EPS for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. The business had revenue of C$1.29 billion during the quarter. On average, equities research analysts expect that ATCO will post 4.1980634 earnings per share for the current year.

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. It generates maximum revenue from the Utilities segment. Geographically, it derives most of its revenue from Canada.