Royal Bank Of Canada Has Lowered Expectations for ATS (TSE:ATS) Stock Price

Key Points

• Royal Bank of Canada cut ATS’s price target to C$41 from C$50, while maintaining an implied upside of 47.64% from the stock’s C$27.77 price.
• Analyst sentiment remains positive overall, with seven Buy ratings and one Hold rating; the consensus rating is “Moderate Buy” with an average target of C$42.25.
• ATS reported quarterly revenue of C$698.3 million and earnings of C$0.35 per share, while the stock trades near its one-year low and below both its 50-day and 200-day moving averages.

ATS (TSE:ATS - Get Free Report) had its target price decreased by equities researchers at Royal Bank Of Canada from C$50.00 to C$41.00 in a research note issued to investors on Monday,BayStreet.CA reports. Royal Bank Of Canada's price objective would indicate a potential upside of 47.64% from the company's current price.

Other analysts also recently issued reports about the company. Stifel Nicolaus dropped their price objective on ATS from C$52.00 to C$44.00 and set a "buy" rating for the company in a report on Friday. Scotiabank boosted their price target on 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. Raymond James Financial dropped their price target on ATS from C$46.00 to C$33.00 and set an "outperform" rating for the company in a research note on Friday. National Bank Financial cut their price objective on ATS from C$57.00 to C$42.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Desjardins reduced their price objective on ATS from C$52.00 to C$46.00 and set a "buy" rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ATS presently has an average rating of "Moderate Buy" and an average price target of C$42.25.

ATS Stock Performance

ATS stock traded down C$1.75 during trading on Monday, hitting C$27.77. The company's stock had a trading volume of 586,609 shares, compared to its average volume of 283,603. The stock's fifty day moving average is C$38.51 and its 200 day moving average is C$41.20. ATS has a 1-year low of C$27.44 and a 1-year high of C$49.48. The stock has a market capitalization of C$2.69 billion, a price-to-earnings ratio of 57.85 and a beta of 1.20.

ATS (TSE:ATS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 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$698.30 million for the quarter.

Insider Buying and Selling at ATS

In other news, insider Jeff Adamson acquired 953 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average cost of C$39.12 per share, with a total value of C$37,281.36. Following the completion of the acquisition, the insider directly owned 6,199 shares in the company, valued at C$242,504.88. This represents a 18.17% increase in their ownership of the stock. Also, insider Angella Alexander purchased 915 shares of ATS stock in a transaction dated Tuesday, July 7th. The stock was acquired at an average price of C$39.12 per share, for a total transaction of C$35,794.80. Following the completion of the transaction, the insider owned 2,207 shares in the company, valued at approximately C$86,337.84. The trade was a 70.82% increase in their position. In the last three months, insiders have acquired 7,311 shares of company stock valued at $358,222. Corporate insiders own 0.97% of the company's stock.

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. The company also provides pre-automation solutions, including strategic direction and planning services, as well as aftermarket support.

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