Desjardins Cuts ATS (TSE:ATS) Price Target to C$46.00

ATS (TSE:ATS) had its price objective cut by investment analysts at Desjardins from C$52.00 to C$46.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 56.57% from the company’s previous close.

ATS has been the subject of several other reports. National Bank Financial lowered 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. Royal Bank Of Canada decreased their price objective on ATS from C$51.00 to C$50.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Scotiabank upped their target price 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. TD increased their target price on ATS from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, Raymond James Financial reduced their target price on ATS from C$46.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ATS currently has an average rating of “Buy” and an average price target of C$45.38.

ATS Trading Up 2.4%

Shares of ATS stock traded up C$0.69 during mid-day trading on Friday, hitting C$29.38. 588,697 shares of the stock were exchanged, compared to its average volume of 278,962. ATS has a twelve month low of C$28.00 and a twelve month high of C$49.48. The stock has a market capitalization of C$2.85 billion, a price-to-earnings ratio of 40.25 and a beta of 1.20. The company has a 50-day simple moving average of C$38.77 and a 200 day simple moving average of C$41.28.

ATS (TSE:ATS) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 earnings per share for the quarter. The business had revenue of C$698.30 million during the quarter. ATS had a net margin of 2.41% and a return on equity of 4.08%.

Insider Buying and Selling

In related news, insider Jeff Adamson acquired 953 shares of the stock in a transaction dated Tuesday, July 7th. The stock was bought at an average cost of C$39.12 per share, with a total value of C$37,281.36. Following the purchase, the insider directly owned 6,199 shares of the company’s stock, valued at approximately C$242,504.88. This represents a 18.17% increase in their ownership of the stock. Also, insider Anne Cybulski bought 289 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average cost of C$289.00 per share, for a total transaction of C$83,521.00. Following the completion of the transaction, the insider directly owned 876 shares in the company, valued at approximately C$253,164. This trade represents a 49.23% increase in their position. Insiders have acquired 7,311 shares of company stock worth $358,222 over the last 90 days. Company insiders own 0.97% of the company’s stock.

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.