ATS (TSE:ATS) Shares Down 14.6% – Here’s Why

ATS Co. (TSE:ATS)’s stock price was down 14.6% during trading on Thursday . The stock traded as low as C$41.77 and last traded at C$41.82. Approximately 99,378 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 217,250 shares. The stock had previously closed at C$48.99.

Analyst Upgrades and Downgrades

Separately, Scotiabank increased their price objective on shares of 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, ATS has an average rating of “Buy” and a consensus target price of C$50.20.

ATS Stock Down 14.7%

The company’s 50 day moving average price is C$43.63 and its 200-day moving average price is C$40.92. The stock has a market cap of C$4.05 billion, a P/E ratio of 219.89 and a beta of 0.97.

ATS (TSE:ATS) last released its quarterly earnings results on Thursday, May 28th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$744.30 million during the quarter. ATS had a net margin of 0.67% and a return on equity of 1.09%.

Insiders Place Their Bets

In other news, insider Doug Wright bought 8,600 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of C$40.20 per share, with a total value of C$345,720.00. Following the completion of the purchase, the insider directly owned 8,600 shares of the company’s stock, valued at approximately C$345,720. This represents a ∞ increase in their ownership of the stock. 0.97% of the stock is owned by corporate insiders.

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.