Royal Bank of Canada Cuts ATS (TSE:ATS) Price Target to C$55.00

ATS (TSE:ATS) had its price objective cut by research analysts at Royal Bank of Canada from C$59.00 to C$55.00 in a report issued on Friday, BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 45.70% from the company’s current price.

Several other analysts have also recently weighed in on the stock. TD Securities cut their price target on shares of ATS from C$67.00 to C$63.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Scotiabank reduced their price target on shares of ATS from C$61.00 to C$54.00 and set a “sector perform” rating for the company in a research report on Friday, May 17th. Cormark cut their price target on ATS from C$67.00 to C$59.00 in a report on Friday, May 17th. Raymond James cut their price objective on ATS from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Friday, May 17th. Finally, Stifel Nicolaus dropped their price target on ATS from C$65.00 to C$60.00 in a research note on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$59.00.

ATS Stock Down 1.7 %

Shares of TSE ATS traded down C$0.65 during trading hours on Friday, reaching C$37.75. 187,233 shares of the stock traded hands, compared to its average volume of 221,271. The company has a market capitalization of C$3.70 billion, a P/E ratio of 19.16 and a beta of 1.36. The company’s 50-day simple moving average is C$43.18 and its two-hundred day simple moving average is C$46.83. ATS has a 52-week low of C$37.15 and a 52-week high of C$61.56.

ATS (TSE:ATS) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.53 by C($0.03). The business had revenue of C$694.30 million during the quarter, compared to analysts’ expectations of C$689.19 million. ATS had a net margin of 6.39% and a return on equity of 13.80%. As a group, sell-side analysts forecast that ATS will post 2.0152792 earnings per share for the current fiscal year.

ATS Company Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.