Scotiabank Lowers ATS (TSE:ATS) Price Target to C$45.00

Key Points

• Scotiabank has decreased its price target for ATS from C$46.00 to C$45.00 and maintains a "sector perform" rating on the stock.
• ATS shares are currently trading at C$39.38, with potential upside of 14.27% based on the new price target.
• Overall, ATS has a consensus rating of "Moderate Buy" with an average target price of C$47.60, supported by multiple analysts' reports.

ATS (TSE:ATS - Get Free Report) had its price target lowered by research analysts at Scotiabank from C$46.00 to C$45.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 14.91% from the company's current price.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada cut their price target on shares of ATS from C$50.00 to C$49.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. TD Securities cut their price target on shares of ATS from C$58.00 to C$54.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Raymond James Financial lowered their price objective on ATS from C$48.00 to C$46.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$47.60.

ATS Trading Down 1.7%

Shares of TSE:ATS traded down C$0.66 during midday trading on Monday, reaching C$39.16. The company had a trading volume of 154,355 shares, compared to its average volume of 232,405. The company's 50 day moving average price is C$41.91 and its 200 day moving average price is C$39.35. The stock has a market cap of C$3.85 billion, a P/E ratio of 43.14 and a beta of 1.36. ATS has a 52-week low of C$29.81 and a 52-week high of C$46.58.

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.