ATS (TSE:ATS) Trading Up 0.3% - Here's Why

Key Points

• Shares of ATS Co. (TSE:ATS) increased by 0.3%, closing at C$37.87, despite a trading volume that was 68% below average.
• Equities analysts have revised their target prices for ATS, with Scotiabank lowering it from C$46.00 to C$45.00 and TD Securities from C$49.00 to C$46.00, while maintaining ratings that range from "buy" to "sector perform".
• ATS Corp, a company specializing in automation systems, has a market capitalization of C$3.66 billion and operates with a price-to-earnings ratio of -94.68.

Shares of ATS Co. (TSE:ATS - Get Free Report) were up 0.3% during mid-day trading on Friday . The stock traded as high as C$38.41 and last traded at C$37.87. Approximately 70,716 shares changed hands during trading, a decline of 68% from the average daily volume of 221,326 shares. The stock had previously closed at C$37.77.

Wall Street Analysts Forecast Growth

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

ATS Price Performance

The stock has a 50 day moving average price of C$37.45 and a two-hundred day moving average price of C$38.71. The firm has a market capitalization of C$3.66 billion, a price-to-earnings ratio of -94.68 and a beta of 1.23.

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.

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