ATS (TSE:ATS) Sets New 12-Month Low – Here’s What Happened

ATS Co. (TSE:ATS)’s stock price hit a new 52-week low on Monday . The stock traded as low as C$26.48 and last traded at C$26.88, with a volume of 46322 shares trading hands. The stock had previously closed at C$27.20.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ATS shares. Royal Bank Of Canada cut their price target on shares of ATS from C$50.00 to C$41.00 in a report on Monday, August 10th. Desjardins lowered their price objective on ATS from C$52.00 to C$46.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Raymond James Financial lowered their price objective on ATS from C$46.00 to C$33.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. National Bank Financial dropped their target price on ATS from C$57.00 to C$42.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Scotiabank increased their target price on ATS from C$48.00 to C$51.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$42.25.

ATS Stock Down 0.9%

The company has a market cap of C$2.64 billion, a price-to-earnings ratio of 56.15 and a beta of 1.20. The business has a fifty day simple moving average of C$36.26 and a 200 day simple moving average of C$40.36.

ATS (TSE:ATS) last posted its quarterly earnings results 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 for the quarter. ATS had a net margin of 1.61% and a return on equity of 2.66%.

Insider Activity

In related news, insider Jeff Adamson bought 953 shares of the company’s stock in a transaction on 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 completion of the acquisition, the insider owned 6,199 shares in the company, valued at approximately C$242,504.88. This represents a 18.17% increase in their position. Also, insider Giuseppe (Joe) Tassone sold 4,842 shares of ATS stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$41.55, for a total transaction of C$201,185.10. Following the sale, the insider owned 7,026 shares of the company’s stock, valued at approximately C$291,930.30. The trade was a 40.80% decrease in their ownership of the stock. Insiders have bought 7,311 shares of company stock valued at $358,222 in the last quarter. Insiders own 0.97% of the company’s stock.

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.