Scotiabank Issues Pessimistic Forecast for ATS (TSE:ATS) Stock Price

ATS (TSE:ATS) had its price target decreased by Scotiabank from C$29.00 to C$27.00 in a research note issued on Thursday, BayStreet reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank‘s price objective suggests a potential upside of 12.50% from the company’s previous close.

Several other research firms also recently weighed in on ATS. Stifel Nicolaus dropped their target price on ATS from C$44.00 to C$41.00 and set a “buy” rating for the company in a research report on Thursday. Desjardins cut their target price on shares of ATS from C$46.00 to C$38.50 and set a “buy” rating on the stock in a research note on Thursday. TD decreased their price target on shares of ATS from C$33.00 to C$28.00 and set a “hold” rating for the company in a research report on Thursday. TD Securities lowered ATS from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, National Bank Financial reduced their price objective on ATS from C$42.00 to C$41.00 and set an “outperform” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$36.06.

ATS Stock Down 1.3%

ATS stock traded down C$0.31 during mid-day trading on Thursday, hitting C$24.00. 257,883 shares of the company were exchanged, compared to its average volume of 319,858. ATS has a 12-month low of C$23.84 and a 12-month high of C$49.48. The firm has a market capitalization of C$2.30 billion, a P/E ratio of 266.67 and a beta of 0.96. The business has a fifty day simple moving average of C$26.20 and a 200-day simple moving average of C$36.48.

ATS (TSE:ATS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported C($0.05) EPS for the quarter. ATS had a return on equity of 0.48% and a net margin of 0.30%. The company had revenue of C$665.77 million during the quarter.

About ATS

ATS Corporation is an industry-leading automation solutions provider to many of the world’s most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added solutions including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, food & beverage, industrial and consumer, and energy.