ATS (TSE:ATS) Price Target Cut to C$46.00 by Analysts at Desjardins

Key Points

• Desjardins lowered ATS’s price target to C$46 from C$52 while maintaining a “buy” rating, implying 56.57% potential 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 recent target reductions.
• ATS shares closed at C$29.38, near their 52-week low of C$28.00; the company recently reported quarterly revenue of C$698.30 million and EPS of C$0.35.

ATS (TSE:ATS - Get Free Report) had its price target decreased by equities research analysts at Desjardins from C$52.00 to C$46.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Desjardins' price target would indicate a potential upside of 56.57% from the company's previous close.

ATS has been the topic of several other reports. TD boosted their target price on shares of ATS from C$48.00 to C$49.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Raymond James Financial reduced their price objective on shares of ATS from C$46.00 to C$33.00 and set an "outperform" rating for the company in a research note on Friday. Royal Bank Of Canada decreased 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 report on Friday, May 29th. National Bank Financial lowered their target price on shares of ATS from C$57.00 to C$42.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Scotiabank increased their target price on shares of ATS from C$48.00 to C$51.00 and gave the company a "sector outperform" rating in a report on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$45.38.

ATS Stock Performance

ATS traded up C$0.69 during 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 52-week low of C$28.00 and a 52-week high of C$49.48. The company's fifty day moving average price is C$38.77 and its 200-day moving average price 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 released its earnings results on Thursday, August 6th. The company reported C$0.35 earnings per share (EPS) for the quarter. The company had revenue of C$698.30 million for the quarter. ATS had a return on equity of 4.08% and a net margin of 2.41%.

Insider Activity

In other ATS news, insider Angella Alexander bought 915 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was bought at an average price of C$39.12 per share, for a total transaction of C$35,794.80. Following the completion of the transaction, the insider owned 2,207 shares in the company, valued at approximately C$86,337.84. The trade was a 70.82% increase in their position. Also, insider Miroslav Kafedzhiev purchased 4,737 shares of ATS stock in a transaction on Tuesday, July 7th. The stock was acquired at an average cost of C$39.12 per share, for a total transaction of C$185,311.44. Following the acquisition, the insider directly owned 4,737 shares of the company's stock, valued at approximately C$185,311.44. This represents a ∞ increase in their ownership of the stock. Insiders bought a total of 7,311 shares of company stock worth $358,222 in the last three months. Company 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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