RBC Capital Sticks to Its Hold Rating for ATCO Ltd Cl I NV (ACO.X)

In a report released today, Maurice Choy from RBC Capital maintained a Hold rating on ATCO Ltd Cl I NV (ACO.X – Research Report), with a price target of C$50.00. The company’s shares opened today at C$48.31.

According to TipRanks, Choy is a 4-star analyst with an average return of 11.7% and a 58.11% success rate. Choy covers the Utilities sector, focusing on stocks such as Emera, Fortis, and TransAlta.

Currently, the analyst consensus on ATCO Ltd Cl I NV is a Moderate Buy with an average price target of C$48.70.

Based on ATCO Ltd Cl I NV’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$1.11 billion and a net profit of C$52 million. In comparison, last year the company earned a revenue of C$1.1 billion and had a net profit of C$79 million

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACO.X in relation to earlier this year.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

ATCO Ltd Cl I NV (ACO.X) Company Description:

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 electricity (generation, transmission, and distribution), pipelines and liquid, Neltume Ports and Structures and logistics. Headquartered in Calgary, Alberta, the firm mainly operates in Canada and Australia, along with some operations in the United States, the United Kingdom, and Mexico. Atco’s large subsidiary, Canadian Utilities, launched a major venture called Atcoenergy, which provides low-cost and sustainable energy solutions for the Canadian province of Alberta.