ATS (TSE:ATS) Given New C$42.00 Price Target at National Bank Financial

Key Points

• National Bank Financial cut ATS’s price target to C$42.00 from C$57.00 while maintaining an “outperform” rating, implying about 43% upside from the prior close.
• Analyst sentiment remains positive: ATS has a consensus “Buy” rating and an average price target of C$45.38, despite several firms revising their targets.
• ATS shares rose 2.4% to C$29.38, but remain near their 12-month low of C$28.00; the company reported quarterly EPS of C$0.35 on revenue of C$698.3 million.

ATS (TSE:ATS - Get Free Report) had its target price cut by research analysts at National Bank Financial from C$57.00 to C$42.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 42.95% from the company's previous close.

A number of other equities analysts have also weighed in on the company. Scotiabank boosted their target price on ATS from C$48.00 to C$51.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, April 28th. TD raised their price target on shares of ATS from C$48.00 to C$49.00 and gave the company a "buy" rating in a report on Friday, May 29th. Desjardins set a C$52.00 price target on shares of ATS and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of 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. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, ATS currently has a consensus rating of "Buy" and a consensus price target of C$45.38.

ATS Trading Up 2.4%

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

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

Insider Buying and Selling

In other news, insider Giuseppe (Joe) Tassone sold 4,842 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$41.55, for a total transaction of C$201,185.10. Following the completion of the sale, the insider owned 7,026 shares of the company's stock, valued at C$291,930.30. This represents a 40.80% decrease in their position. Also, insider Angella Alexander bought 915 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were acquired at an average price of C$39.12 per share, with a total value of C$35,794.80. Following the completion of the transaction, the insider directly owned 2,207 shares of the company's stock, valued at C$86,337.84. This trade represents a 70.82% increase in their position. Insiders have purchased 7,311 shares of company stock valued at $358,222 in the last 90 days. Insiders own 0.97% of the company's stock.

About ATS

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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