ATS (NYSE:ATS) Price Target Cut to $50.00 by Analysts at Royal Bank Of Canada

ATS (NYSE:ATS) had its target price reduced by equities researchers at Royal Bank Of Canada from $51.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 63.08% from the company’s current price.

Other research analysts have also issued reports about the company. Zacks Research lowered ATS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen lowered ATS from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings raised ATS from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Scotiabank reissued an “outperform” rating on shares of ATS in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ATS currently has an average rating of “Hold” and a consensus price target of $42.50.

ATS Stock Up 0.8%

Shares of NYSE ATS traded up $0.23 during mid-day trading on Friday, reaching $30.66. 80,025 shares of the company were exchanged, compared to its average volume of 165,659. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.82. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 204.38 and a beta of 1.26. ATS has a 1 year low of $23.84 and a 1 year high of $35.82. The firm has a 50-day moving average of $31.71 and a 200 day moving average of $29.75.

ATS (NYSE:ATS) last announced its earnings results on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). ATS had a net margin of 0.77% and a return on equity of 9.67%. The business had revenue of $535.09 million for the quarter, compared to analyst estimates of $529.43 million. On average, research analysts expect that ATS will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On ATS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake in shares of ATS by 2.6% in the first quarter. Pictet Asset Management Holding SA now owns 16,423 shares of the company’s stock valued at $461,000 after buying an additional 417 shares in the last quarter. Stifel Financial Corp grew its stake in shares of ATS by 3.9% in the fourth quarter. Stifel Financial Corp now owns 12,593 shares of the company’s stock valued at $347,000 after buying an additional 467 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of ATS by 0.3% in the third quarter. Van Berkom & Associates Inc. now owns 269,994 shares of the company’s stock valued at $7,062,000 after buying an additional 734 shares in the last quarter. Barclays PLC grew its stake in shares of ATS by 16.8% in the fourth quarter. Barclays PLC now owns 5,264 shares of the company’s stock valued at $145,000 after buying an additional 756 shares in the last quarter. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of ATS in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.

About ATS

ATS Corporation (NYSE: ATS) is a Canada-based global provider of automation and energy solutions. Headquartered in Cambridge, Ontario, the company specializes in the design, engineering and manufacturing of custom automation and test systems, as well as fluid handling and control products. Since its founding in 1978, ATS has focused on delivering integrated hardware and software solutions that help original equipment manufacturers (OEMs) improve efficiency, quality and throughput across a range of industries.

Through its Automation segment, ATS develops bespoke assembly and testing platforms for sectors such as life sciences, consumer electronics, automotive and industrial equipment.