TD Securities Downgrades ATS (TSE:ATS) to Hold

Key Points

• TD Securities downgraded ATS from “strong buy” to “hold” and cut its price target from C$49 to C$33.
• Other analysts also lowered their targets, although the consensus remains “Moderate Buy,” with six Buy ratings and two Holds and an average target of C$42.25.
• ATS shares opened at C$27.51, near their 12-month low of C$27.36; the company recently reported quarterly EPS of C$0.35 on revenue of C$698.3 million.

ATS (TSE:ATS - Get Free Report) was downgraded by investment analysts at TD Securities from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. National Bank Financial decreased their target price on shares of ATS from C$57.00 to C$42.00 and set an "outperform" rating for the company in a research note 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 reduced their price objective on ATS from C$46.00 to C$33.00 and set an "outperform" rating for the company in a research note on Friday. Desjardins decreased their price objective on ATS from C$52.00 to C$46.00 and set a "buy" rating for the company in a research report on Friday. Finally, TD downgraded ATS from a "buy" rating to a "hold" rating and lowered their target price for the company from C$49.00 to C$33.00 in a research note on Monday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$42.25.

ATS Price Performance

ATS stock opened at C$27.51 on Monday. The company has a market cap of C$2.67 billion, a price-to-earnings ratio of 57.31 and a beta of 1.20. The company has a fifty day moving average price of C$38.24 and a 200 day moving average price of C$41.12. ATS has a 12 month low of C$27.36 and a 12 month high of C$49.48.

ATS (TSE:ATS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 earnings per share (EPS) for the quarter. The company had revenue of C$698.30 million for the quarter. ATS had a net margin of 1.61% and a return on equity of 2.66%.

Insider Transactions at ATS

In related news, insider Giuseppe (Joe) Tassone sold 4,842 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$41.55, for a total value of C$201,185.10. Following the completion of the transaction, the insider directly owned 7,026 shares of the company's stock, valued at C$291,930.30. This trade represents a 40.80% decrease in their position. Also, insider Angella Alexander acquired 915 shares of ATS stock in a transaction that occurred on Tuesday, July 7th. The shares were purchased at an average cost of C$39.12 per share, with a total value of C$35,794.80. Following the completion of the acquisition, the insider owned 2,207 shares of the company's stock, valued at C$86,337.84. The trade was a 70.82% increase in their position. Insiders bought a total of 7,311 shares of company stock worth $358,222 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

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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