ATS (TSE:ATS) Cut to “Hold” at TD

TD lowered shares of ATS (TSE:ATS) from a buy rating to a hold rating in a report issued on Monday morning,BayStreet.CA reports. TD currently has C$33.00 target price on the stock, down from their previous target price of C$49.00.

A number of other research firms also recently weighed in on ATS. Raymond James Financial reduced their price target on ATS from C$46.00 to C$33.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. National Bank Financial lowered their price objective on shares of ATS from C$57.00 to C$42.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada cut their price objective on shares of 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. Stifel Nicolaus reduced their target price on shares of ATS from C$52.00 to C$44.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Scotiabank raised their target price on shares of ATS from C$48.00 to C$51.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, ATS presently has a consensus rating of “Moderate Buy” and an average price target of C$42.25.

ATS Price Performance

Shares of ATS stock opened at C$28.32 on Monday. The firm has a market cap of C$2.75 billion, a price-to-earnings ratio of 59.00 and a beta of 1.20. The stock’s 50-day moving average is C$37.74 and its 200-day moving average is C$40.95. ATS has a one year low of C$27.36 and a one year high of C$49.48.

ATS (TSE:ATS) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 earnings per share (EPS) for the quarter. ATS had a return on equity of 2.66% and a net margin of 1.61%.The business had revenue of C$698.30 million during the quarter.

Insider Activity

In related news, insider Jeff Adamson purchased 953 shares of ATS stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average cost of C$39.12 per share, with a total value of C$37,281.36. Following the completion of the transaction, the insider owned 6,199 shares of the company’s stock, valued at approximately C$242,504.88. This trade represents a 18.17% increase in their position. Also, insider Giuseppe (Joe) Tassone sold 4,842 shares of the firm’s 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 value of C$201,185.10. Following the completion of the transaction, the insider owned 7,026 shares of the company’s stock, valued at approximately C$291,930.30. This represents a 40.80% decrease in their ownership of the stock. In the last ninety days, insiders acquired 7,311 shares of company stock valued at $358,222. Corporate 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.