ATS (TSE:ATS) Stock Falls 1.3% – Here’s Why

ATS Co. (TSE:ATS) dropped 1.3% during mid-day trading on Monday. The company traded as low as C$26.37 and last traded at C$26.66. 292,089 shares changed hands during trading, a decline of 5% from the average session volume of 307,991 shares. The stock had previously closed at C$27.01.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ATS shares. Stifel Nicolaus decreased their price objective 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. Royal Bank Of Canada cut their target price on shares of ATS from C$50.00 to C$41.00 in a research report on Monday, August 10th. National Bank Financial decreased their target price on shares of ATS from C$57.00 to C$42.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Desjardins lowered their price target 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. Finally, TD Securities downgraded ATS from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$42.25.

ATS Price Performance

The company has a 50-day moving average of C$29.74 and a two-hundred day moving average of C$37.47. The company has a market capitalization of C$2.62 billion, a PE ratio of 55.54 and a beta of 1.07.

ATS (TSE:ATS) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.35 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 Buying and Selling

In other news, insider Jeff Adamson bought 953 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were bought at an average price of C$39.12 per share, for a total transaction of C$37,281.36. Following the purchase, the insider owned 6,199 shares in the company, valued at approximately C$242,504.88. The trade was a 18.17% increase in their ownership of the stock. Also, insider Angella Alexander bought 915 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were purchased at an average price of C$39.12 per share, for a total transaction of C$35,794.80. Following 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. In the last quarter, insiders have purchased 7,311 shares of company stock valued at $358,222. 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.