ATS (TSE:ATS) Stock Rating Lowered by TD

Key Points

• TD downgraded ATS from “buy” to “hold” and cut its price target from C$49 to C$33, although the target still implied 18.83% upside from the prior close.
• ATS shares fell 5.9% to C$27.77, near their C$27.44 one-year low. Despite the decline, analysts maintained an overall “Moderate Buy” consensus with an average price target of C$42.25.
• The company reported quarterly EPS of C$0.35 on revenue of C$698.3 million, while insiders bought 7,311 shares worth approximately C$358,222 over the past quarter.

ATS (TSE:ATS - Get Free Report) was downgraded by research analysts at TD from a "buy" rating to a "hold" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$33.00 price objective on the stock, down from their previous price objective of C$49.00. TD's target price indicates a potential upside of 18.83% from the stock's previous close.

Several other research analysts have also recently issued reports on ATS. Raymond James Financial cut their target price on shares of ATS from C$46.00 to C$33.00 and set an "outperform" rating on the stock in a report on Friday. Stifel Nicolaus lowered 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 report on Friday. Scotiabank increased their price target 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. Royal Bank Of Canada cut their price target on shares of ATS from C$51.00 to C$50.00 and set an "outperform" rating on the stock in a report on Friday, May 29th. Finally, National Bank Financial decreased their price objective on shares of ATS from C$57.00 to C$42.00 and set an "outperform" rating on the stock in a research report on Friday. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, ATS presently has an average rating of "Moderate Buy" and an average price target of C$42.25.

ATS Stock Down 5.9%

Shares of TSE ATS traded down C$1.75 during midday trading on Monday, reaching C$27.77. The company had a trading volume of 586,609 shares, compared to its average volume of 283,603. The stock has a market cap of C$2.69 billion, a PE ratio of 57.85 and a beta of 1.20. ATS has a one year low of C$27.44 and a one year high of C$49.48. The firm's fifty day moving average price is C$38.51 and its 200-day moving average price is C$41.20.

ATS (TSE:ATS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.35 earnings per share (EPS) for the quarter. The business had revenue of C$698.30 million for the quarter. ATS had a return on equity of 4.08% and a net margin of 2.41%.

Insider Buying and Selling

In other news, insider Miroslav Kafedzhiev purchased 4,737 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average cost of C$39.12 per share, for a total transaction of C$185,311.44. Following the completion of the transaction, the insider directly owned 4,737 shares of the company's stock, valued at C$185,311.44. This trade represents a ∞ increase in their position. Also, insider Anne Cybulski purchased 289 shares of ATS stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average cost of C$289.00 per share, for a total transaction of C$83,521.00. Following the completion of the purchase, the insider 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 bought a total of 7,311 shares of company stock worth $358,222 over the last quarter. Company 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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