ATS (TSE:ATS) Price Target Cut to C$33.00 by Analysts at Raymond James Financial

ATS (TSE:ATS) had its price objective reduced by Raymond James Financial from C$46.00 to C$33.00 in a research report sent to investors on Friday,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the stock.

Several other equities research analysts have also commented on ATS. Royal Bank Of Canada cut their target price on ATS from C$51.00 to C$50.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. TD lifted their target price on ATS from C$48.00 to C$49.00 and gave the stock a “buy” rating in a report on Friday, May 29th. National Bank Financial dropped their price target on ATS from C$57.00 to C$42.00 and set an “outperform” rating on the stock 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 note on Tuesday, April 28th. Finally, Desjardins set a C$52.00 price target on ATS and gave the stock a “buy” rating in a report on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$45.38.

ATS Stock Up 2.9%

ATS stock opened at C$29.52 on Friday. The firm has a market cap of C$2.86 billion, a price-to-earnings ratio of 61.50 and a beta of 1.20. The company’s fifty day simple moving average is C$38.51 and its 200 day simple moving average is C$41.20. ATS has a 12-month low of C$28.00 and a 12-month high of C$49.48.

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

Insider Buying and Selling

In other news, insider Anne Cybulski bought 289 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was acquired at an average cost of C$289.00 per share, with a total value of C$83,521.00. Following the transaction, the insider directly owned 876 shares of the company’s stock, valued at approximately C$253,164. This represents a 49.23% increase in their position. Also, insider Angella Alexander purchased 915 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were purchased at an average cost of C$39.12 per share, for a total transaction of C$35,794.80. Following the completion of the purchase, the insider owned 2,207 shares in the company, valued at C$86,337.84. This trade represents a 70.82% increase in their position. Insiders acquired a total of 7,311 shares of company stock worth $358,222 over the last 90 days. 0.97% of the stock is owned by company insiders.

ATS News Roundup

Here are the key news stories impacting ATS this week:

• Positive Sentiment: Desjardins maintained a buy rating while lowering its target to C$46 from C$52, implying approximately 56.5% upside from C$29.39. BayStreet.CA analyst ratings
• Positive Sentiment: Stifel Nicolaus also kept a buy rating and set a C$44 target, representing roughly 49.7% potential upside. BayStreet.CA analyst ratings
• Positive Sentiment: Raymond James retained an outperform rating with a C$33 target, while National Bank Financial maintained outperform and set a C$42 target. These targets imply more limited and substantial upside, respectively. BayStreet.CA analyst ratings
• Neutral Sentiment: ATS reported quarterly revenue of C$698.3 million and earnings of C$0.35 per share. Its 2.41% net margin and 4.08% return on equity indicate profitability remains relatively modest. ATS quarterly earnings
• Negative Sentiment: The broad target reductions—from prior targets as high as C$57—signal that analysts have tempered their earnings or valuation assumptions. The stock also remains well below its 50-day and 200-day moving averages and near its 1-year low, highlighting continued investor concerns despite the bullish ratings.

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.