Insider Buying: ATS (TSE:ATS) Insider Acquires 953 Shares

Key Points

• ATS insider Jeff Adamson bought 953 shares on July 7 at an average price of C$39.12, a transaction worth C$37,281.36. The purchase increased his position by 18.17% to 6,199 shares.
• ATS shares were down 1.8% in midday trading to C$38.52, near their 50-day and 200-day moving averages. The company has a market cap of C$3.74 billion and trades within a 52-week range of C$33.72 to C$49.48.
• Analysts remain bullish on ATS, with seven Buy ratings and an average price target of C$50.43. Recent broker notes from RBC, TD, Desjardins, and Scotiabank mostly maintained positive ratings while adjusting targets slightly higher or lower.

ATS Co. (TSE:ATS - Get Free Report) insider Jeff Adamson purchased 953 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was acquired at an average cost 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 in the company, valued at C$242,504.88. The trade was a 18.17% increase in their position.

ATS Trading Down 1.8%

ATS traded down C$0.69 during midday trading on Wednesday, hitting C$38.52. The company's stock had a trading volume of 258,086 shares, compared to its average volume of 259,960. ATS Co. has a 52-week low of C$33.72 and a 52-week high of C$49.48. The firm has a 50-day moving average price of C$42.02 and a two-hundred day moving average price of C$41.54. The firm has a market cap of C$3.74 billion, a P/E ratio of 52.77 and a beta of 1.20.

ATS (TSE:ATS - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported C$0.36 earnings per share for the quarter. ATS had a net margin of 2.41% and a return on equity of 4.08%. The business had revenue of C$744.30 million for the quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ATS. Royal Bank Of Canada lowered their price objective on shares of ATS from C$51.00 to C$50.00 and set an "outperform" rating for the company in a research note on Friday, May 29th. TD boosted their price target on ATS from C$48.00 to C$49.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Desjardins set a C$52.00 price target on ATS and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Finally, Scotiabank lifted their price objective on ATS from C$48.00 to C$51.00 and gave the company a "sector outperform" rating in a research note on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$50.43.

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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