ATS (TSE:ATS) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised its price target on ATS to C$51 (from C$48) with a "sector outperform" rating—implying roughly a 17.2% upside—and TD Securities also raised its target to C$48; five analysts rate the stock a Buy with an average target of C$50.20.
• Shares dipped to C$43.52 (down about 3.4%) on Tuesday, trading below analyst targets; the company has a market cap of C$4.22 billion and a trailing P/E of 229.05.
• Insider Doug Wright purchased 8,300 shares at C$41.44 on March 11, increasing his holding by ~96.5% to 16,900 shares, signaling insider buying interest.

ATS (TSE:ATS - Get Free Report) had its price objective hoisted by analysts at Scotiabank from C$48.00 to C$51.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 17.19% from the company's previous close.

Separately, TD Securities boosted their price target on shares of ATS from C$46.00 to C$48.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$50.20.

ATS Stock Down 3.4%

ATS stock traded down C$1.52 during mid-day trading on Tuesday, hitting C$43.52. 71,941 shares of the company were exchanged, compared to its average volume of 217,480. The business has a fifty day moving average of C$42.36 and a 200 day moving average of C$39.78. ATS has a 1-year low of C$33.72 and a 1-year high of C$46.99. The company has a market capitalization of C$4.22 billion, a PE ratio of 229.05 and a beta of 0.94.

ATS (TSE:ATS - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported C$0.48 earnings per share (EPS) for the quarter. ATS had a return on equity of 1.09% and a net margin of 0.67%.The firm had revenue of C$760.65 million during the quarter.

Insider Buying and Selling at ATS

In related news, insider Doug Wright purchased 8,300 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of C$41.44 per share, with a total value of C$343,952.00. Following the completion of the acquisition, the insider directly owned 16,900 shares in the company, valued at approximately C$700,336. This trade represents a 96.51% increase in their position. 0.97% of the stock is currently owned by corporate 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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