ATS (TSE:ATS) Price Target Cut to C$46.00 by Analysts at Raymond James Financial

Key Points

• Investment analysts at Raymond James Financial have lowered their price target for ATS (TSE:ATS) stock from C$48.00 to C$46.00, while maintaining an "outperform" rating.
• Other analysts, such as TD Securities and Scotiabank, have also adjusted their price targets, with average ratings leaning towards a moderate buy and a consensus target price of C$50.00.
• ATS shares experienced a decline, trading down 3.5% to reach C$39.15 on a recent trading session, below both its 50-day and 200-day moving averages.

ATS (TSE:ATS - Get Free Report) had its target price dropped by equities research analysts at Raymond James Financial from C$48.00 to C$46.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 15.96% from the company's previous close.

A number of other equities analysts have also recently issued reports on ATS. Scotiabank set a C$43.00 price objective on shares of ATS and gave the stock a "hold" rating in a research report on Tuesday, April 29th. TD Securities cut their price objective on shares of ATS from C$58.00 to C$54.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, ATS currently has an average rating of "Moderate Buy" and a consensus price target of C$47.60.

ATS Price Performance

Shares of ATS stock traded up C$0.25 on Friday, hitting C$39.67. 26,210 shares of the company's stock traded hands, compared to its average volume of 231,674. The company has a market capitalization of C$3.90 billion, a price-to-earnings ratio of 43.70 and a beta of 1.36. The company has a fifty day moving average of C$41.96 and a two-hundred day moving average of C$39.35. ATS has a one year low of C$29.81 and a one year high of C$46.58.

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.