ATS (TSE:ATS) Shares Down 14.6% – Here’s Why

ATS Co. (TSE:ATS)’s stock price traded down 14.6% during mid-day trading on Thursday . The company traded as low as C$41.77 and last traded at C$41.82. 99,378 shares traded hands during trading, a decline of 54% from the average session volume of 217,250 shares. The stock had previously closed at C$48.99.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on shares of ATS from C$48.00 to C$51.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, ATS has an average rating of “Buy” and an average price target of C$50.20.

ATS Trading Down 14.7%

The stock’s 50-day simple moving average is C$43.63 and its 200-day simple moving average is C$40.92. The stock has a market cap of C$4.05 billion, a price-to-earnings ratio of 219.89 and a beta of 0.97.

ATS (TSE:ATS) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$744.30 million for the quarter. ATS had a net margin of 0.67% and a return on equity of 1.09%.

Insider Buying and Selling

In related news, insider Doug Wright acquired 8,600 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of C$40.20 per share, with a total value of C$345,720.00. Following the purchase, the insider directly owned 8,600 shares in the company, valued at approximately C$345,720. This trade represents a ? increase in their ownership of the stock. 0.97% of the stock is currently owned by insiders.

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.