ATS (TSE:ATS) Given New C$33.00 Price Target at Raymond James Financial

Key Points

• Raymond James cut its ATS price target to C$33 from C$46 while maintaining an “outperform” rating, implying roughly 12.3% upside from the reported C$29.38 share price.
• Despite the downgrade, analysts remain broadly positive: eight analysts rate ATS a Buy, with a consensus target of C$45.38.
• ATS reported quarterly EPS of C$0.35 on revenue of C$698.3 million, while the stock remains near its 12-month low and has a market capitalization of approximately C$2.85 billion.

ATS (TSE:ATS - Get Free Report) had its target price decreased by equities researchers at Raymond James Financial from C$46.00 to C$33.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective would suggest a potential upside of 12.32% from the company's current price.

Other analysts also recently issued research reports about the company. Desjardins set a C$52.00 target price on ATS and gave the company a "buy" rating in a research report on Wednesday, June 17th. Scotiabank raised their price target on ATS from C$48.00 to C$51.00 and gave the company a "sector outperform" rating in a research note on Tuesday, April 28th. Royal Bank Of Canada lowered their price target on ATS from C$51.00 to C$50.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. National Bank Financial dropped their price objective on ATS from C$57.00 to C$42.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, TD increased their price objective on ATS from C$48.00 to C$49.00 and gave the company a "buy" rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, ATS presently has an average rating of "Buy" and an average target price of C$45.38.

ATS Stock Performance

ATS stock traded up C$0.69 during mid-day trading on Friday, reaching C$29.38. The company's stock had a trading volume of 588,697 shares, compared to its average volume of 278,962. ATS has a 12 month low of C$28.00 and a 12 month high of C$49.48. The business's 50 day simple moving average is C$38.77 and its 200 day simple moving average is C$41.28. The company has a market capitalization of C$2.85 billion, a price-to-earnings ratio of 40.25 and a beta of 1.20.

ATS (TSE:ATS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.35 EPS for the quarter. ATS had a net margin of 2.41% and a return on equity of 4.08%. The firm had revenue of C$698.30 million for the quarter.

Insiders Place Their Bets

In other ATS news, insider Jeff Adamson purchased 953 shares of the stock in a transaction on Tuesday, July 7th. The shares were purchased at an average price of C$39.12 per share, with a total value of C$37,281.36. Following the completion of the transaction, the insider directly owned 6,199 shares in the company, valued at C$242,504.88. This represents a 18.17% increase in their ownership of the stock. Also, insider Giuseppe (Joe) Tassone sold 4,842 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$41.55, for a total value of C$201,185.10. Following the completion of the sale, the insider owned 7,026 shares in the company, valued at C$291,930.30. This represents a 40.80% decrease in their position. Insiders acquired a total of 7,311 shares of company stock worth $358,222 in the last three months. Insiders own 0.97% of the company's stock.

ATS Company Profile

ATS Corp formerly, ATS Automation Tooling Systems Inc is a Canada-based company that provides automation systems. The company designs and builds customized automated manufacturing and testing systems for customers, and provides pre- and post-automation services. The company's products comprise conveyor systems, automated electrified monorails, tray handlers, laser systems, and other hardware and software products. The company also provides pre-automation solutions, including strategic direction and planning services, as well as aftermarket support.

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