Canadian Imperial Bank of Commerce Cuts ATCO (TSE:ACO.X) Price Target to C$85.00

by · The Markets Daily

ATCO (TSE:ACO.X – Free Report) had its target price cut by Canadian Imperial Bank of Commerce from C$88.00 to C$85.00 in a research note issued to investors on Tuesday morning,BayStreet reports.

Other equities analysts have also issued reports about the stock. Scotiabank lifted their target price on shares of ATCO from C$70.00 to C$79.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. National Bank Financial upped their price target on ATCO from C$69.00 to C$79.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Royal Bank Of Canada raised their price objective on ATCO from C$71.00 to C$80.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets lifted their price objective on ATCO from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ATCO currently has an average rating of “Hold” and an average target price of C$77.86.

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ATCO Stock Up 0.1%

TSE:ACO.X opened at C$73.55 on Tuesday. The firm’s 50-day moving average price is C$75.46 and its 200-day moving average price is C$71.91. The company has a market capitalization of C$8.28 billion, a PE ratio of 45.97, a P/E/G ratio of 3.80 and a beta of 0.28. The company has a debt-to-equity ratio of 131.63, a current ratio of 1.42 and a quick ratio of 1.48. ATCO has a 1-year low of C$49.02 and a 1-year high of C$81.41.

ATCO (TSE:ACO.X – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.01 earnings per share (EPS) for the quarter. ATCO had a net margin of 8.16% and a return on equity of 8.54%. On average, equities analysts predict that ATCO will post 4.1980634 EPS for the current fiscal year.

ATCO Company Profile

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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.

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