ATS (TSE:ATS) Price Target Cut to C$49.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for ATS from C$50.00 to C$49.00, indicating a potential upside of 25.16% from the current stock price.
• Several other financial institutions have also adjusted their target prices for ATS, with Raymond James reducing it to C$46.00 and Scotiabank to C$43.00.
• ATS shares experienced a 3.5% drop during trading, bringing the share price down to C$39.15, with a one-year trading range between C$29.81 and C$46.58.

ATS (TSE:ATS - Free Report) had its target price reduced by Royal Bank Of Canada from C$50.00 to C$49.00 in a research report report published on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

ATS has been the topic of several other research reports. Scotiabank set a C$43.00 target price on shares of ATS and gave the stock a "hold" rating in a research report on Tuesday, April 29th. Raymond James Financial lowered their price target on shares of ATS from C$48.00 to C$46.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, TD Securities lowered 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, ATS currently has a consensus rating of "Moderate Buy" and a consensus target price of C$47.60.

ATS Stock Performance

Shares of ATS stock traded up C$0.25 during mid-day trading on Friday, hitting C$39.67. 26,210 shares of the stock were exchanged, compared to its average volume of 231,674. ATS has a 12 month low of C$29.81 and a 12 month high of C$46.58. The company has a 50-day simple moving average of C$41.96 and a 200 day simple moving average of C$39.35. The company has a market capitalization of C$3.90 billion, a P/E ratio of 43.70 and a beta of 1.36.

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.