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

Key Points

• ATS shares hit a new 52-week low, falling to C$26.48 and last trading at C$26.88, well below their 50-day and 200-day moving averages.
• Analysts have broadly cut price targets, with the average now at C$42.25; however, six analysts maintain Buy ratings versus two Holds, resulting in a “Moderate Buy” consensus.
• ATS reported quarterly earnings of C$0.35 per share on C$698.3 million in revenue, while recent insider activity was mixed, including purchases by insiders and a notable sale by another executive.

ATS Co. (TSE:ATS - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as C$26.48 and last traded at C$26.88, with a volume of 46322 shares. The stock had previously closed at C$27.20.

Analysts Set New Price Targets

A number of research analysts recently commented on ATS shares. 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 research report on Tuesday, April 28th. Stifel Nicolaus reduced their price target on shares of ATS from C$52.00 to C$44.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Royal Bank Of Canada reduced their price target on shares of ATS from C$50.00 to C$41.00 in a research report on Monday, August 10th. TD cut ATS from a "buy" rating to a "hold" rating and decreased their target price for the company from C$49.00 to C$33.00 in a research report on Monday, August 10th. Finally, National Bank Financial decreased their target price on ATS from C$57.00 to C$42.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$42.25.

ATS Trading Down 0.9%

The business's fifty day moving average price is C$36.26 and its 200 day moving average price is C$40.36. The firm has a market capitalization of C$2.64 billion, a price-to-earnings ratio of 56.15 and a beta of 1.20.

ATS (TSE:ATS - Get Free Report) last issued 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 net margin of 1.61% and a return on equity of 2.66%.

Insider Buying and Selling at ATS

In other ATS news, insider Jeff Adamson bought 953 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was acquired at an average price of C$39.12 per share, for a total transaction of C$37,281.36. Following the completion of the purchase, the insider owned 6,199 shares of the company's stock, valued at approximately C$242,504.88. This represents a 18.17% increase in their ownership of the stock. Also, insider Giuseppe (Joe) Tassone sold 4,842 shares of ATS stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$41.55, for a total value of C$201,185.10. Following the completion of the transaction, the insider owned 7,026 shares in the company, valued at C$291,930.30. This trade represents a 40.80% decrease in their ownership of the stock. In the last ninety days, insiders have acquired 7,311 shares of company stock valued at $358,222. Corporate 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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