ATS (TSE:ATS) Stock Price Down 0.2% - Here's Why

Key Points

• ATS Co. (TSE:ATS) saw its stock price decline by 0.2%, trading at C$37.09 with an increase in trading volume to 246,200 shares.
• Analysts have downgraded their price targets for ATS, with Raymond James reducing it from C$48.00 to C$46.00 and Royal Bank of Canada from C$50.00 to C$49.00, yet the stock maintains a consensus rating of "Moderate Buy".
• ATS Corp specializes in providing automated manufacturing and testing systems, with a market capitalization of C$3.58 billion and a P/E ratio of -92.73.

ATS Co. (TSE:ATS - Get Free Report)'s stock price fell 0.2% during mid-day trading on Wednesday . The stock traded as low as C$37.00 and last traded at C$37.09. 246,200 shares were traded during trading, an increase of 8% from the average session volume of 228,918 shares. The stock had previously closed at C$37.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATS. Royal Bank Of Canada reduced their target price on ATS from C$50.00 to C$49.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. TD Securities decreased their price objective on shares of ATS from C$49.00 to C$46.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Scotiabank dropped their target price on shares of ATS from C$46.00 to C$45.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Finally, Raymond James Financial cut their price target on shares of ATS from C$48.00 to C$46.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$47.60.

ATS Stock Performance

The company has a market cap of C$3.72 billion, a PE ratio of -96.20 and a beta of 1.35. The business's 50-day moving average is C$39.76 and its 200 day moving average is C$38.83.

ATS Company Profile

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.