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ATS Automation Tooling Systems (TSE:ATA) Price Target Lowered to C$22.00 at National Bank Financial

Wednesday, September 16, 2020 | MarketBeat

ATS Automation Tooling Systems (TSE:ATA) had its price objective decreased by analysts at National Bank Financial from C$24.00 to C$22.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 22.29% from the stock's current price. National Bank Financial also issued estimates for ATS Automation Tooling Systems' Q4 2021 earnings at $0.26 EPS.

Several other brokerages have also issued reports on ATA. TD Securities upgraded ATS Automation Tooling Systems from a "hold" rating to a "buy" rating and set a C$24.00 price objective for the company in a report on Tuesday, June 9th. Scotiabank cut their target price on shares of ATS Automation Tooling Systems from C$28.00 to C$27.00 in a research note on Wednesday, September 9th. Finally, Royal Bank of Canada lowered their target price on shares of ATS Automation Tooling Systems from C$22.00 to C$21.00 and set a "sector perform" rating for the company in a report on Monday, July 27th.

Shares of ATA stock opened at C$17.99 on Wednesday. ATS Automation Tooling Systems has a 1 year low of C$14.27 and a 1 year high of C$23.07. The stock has a market cap of $1.66 billion and a PE ratio of 35.98. The stock has a fifty day moving average price of C$18.53 and a 200 day moving average price of C$18.54. The company has a debt-to-equity ratio of 74.86, a quick ratio of 1.94 and a current ratio of 2.20.

ATS Automation Tooling Systems (TSE:ATA) last released its quarterly earnings results on Wednesday, August 12th. The company reported C$0.17 EPS for the quarter, topping the Thomson Reuters' consensus estimate of C$0.13 by C$0.04. The business had revenue of C$324.87 million during the quarter, compared to analyst estimates of C$302.95 million. As a group, equities research analysts predict that ATS Automation Tooling Systems will post 1.24 earnings per share for the current year.

In related news, Senior Officer Simon Roberts sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of C$20.86, for a total transaction of C$104,298.00. Also, Senior Officer Maria Perrella sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$19.05, for a total transaction of C$666,662.50. Following the transaction, the insider now directly owns 47,775 shares of the company's stock, valued at approximately C$909,994.31.

About ATS Automation Tooling Systems

ATS Automation Tooling Systems Inc provides factory automation solutions worldwide. The company is involved in the planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. Its products include ATS Supertrak, a modular conveyor system; ATS OmniTrak optimal solution; LogiTrack automated electrified monorail for transporting heavy workloads through assembly operations; Sortimat Clearliner, a tray handler for clean room requirement; Sortimat Workliner tray handling technology; Sortimat Birkman, a feeder technology for sorting, transporting, and separating parts; ATS Cortex system, a vision device that reduces integration time with standardized hardware and software; and ATS SmartVision software, a PC-based vision system.

See Also: Why do earnings reports matter?

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