ATS (TSE:ATS) Sets New 1-Year Low - Here's What Happened

Key Points

• ATS shares fell to a new 52-week low of C$27.31, down from the previous close of C$28.16, with 161,254 shares traded.
• Analysts broadly remain positive but have cut their targets sharply; ATS has a “Moderate Buy” consensus rating and an average target price of C$42.25, while TD Securities downgraded the stock to “hold.”
• In its latest quarter, ATS reported C$0.35 in earnings per share and C$698.3 million in revenue, alongside a 1.61% net margin and 2.66% return on equity. Insiders purchased 7,311 shares worth about C$358,222 over the past quarter.

ATS Co. (TSE:ATS - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$27.31 and last traded at C$27.31, with a volume of 161254 shares changing hands. The stock had previously closed at C$28.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ATS shares. Royal Bank Of Canada reduced their target price on shares of ATS from C$50.00 to C$41.00 in a report on Monday, August 10th. National Bank Financial reduced 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, August 7th. Raymond James Financial decreased their price objective on ATS from C$46.00 to C$33.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. TD Securities lowered ATS from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus dropped their target price on ATS from C$52.00 to C$44.00 and set a "buy" rating for the company in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, ATS has a consensus rating of "Moderate Buy" and an average target price of C$42.25.

ATS Stock Performance

The business has a 50-day simple moving average of C$37.33 and a 200 day simple moving average of C$40.78. The firm has a market cap of C$2.67 billion, a P/E ratio of 56.58 and a beta of 1.20.

ATS (TSE:ATS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 earnings per share for the quarter. ATS had a return on equity of 2.66% and a net margin of 1.61%.The firm had revenue of C$698.30 million for the quarter.

Insiders Place Their Bets

In related news, insider Jeff Adamson purchased 953 shares of ATS stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average price of C$39.12 per share, for a total transaction of C$37,281.36. Following the completion of the transaction, the insider directly owned 6,199 shares of the company's stock, valued at C$242,504.88. This represents a 18.17% increase in their ownership of the stock. Also, insider Anne Cybulski purchased 289 shares of ATS stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average price of C$289.00 per share, for a total transaction of C$83,521.00. Following the transaction, the insider directly owned 876 shares of the company's stock, valued at C$253,164. This trade represents a 49.23% increase in their ownership of the stock. Insiders have purchased a total of 7,311 shares of company stock valued at $358,222 over the last quarter. 0.97% of the stock is owned by company insiders.

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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