Royal Bank of Canada Cuts ATS (TSE:ATS) Price Target to C$60.00

ATS (TSE:ATS) had its price target trimmed by Royal Bank of Canada from C$65.00 to C$60.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently weighed in on the company. TD Securities decreased their price target on ATS from C$67.00 to C$63.00 and set a buy rating for the company in a research note on Friday, May 17th. National Bankshares reduced their price target on shares of ATS from C$69.00 to C$65.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Stifel Nicolaus restated a buy rating and set a C$68.00 price objective (down previously from C$73.00) on shares of ATS in a research report on Tuesday, April 16th. Scotiabank cut their target price 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. Finally, Raymond James lowered their price target on ATS from C$65.00 to C$60.00 and set an outperform rating on the stock in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, ATS presently has a consensus rating of Moderate Buy and a consensus price target of C$61.29.

ATS Stock Performance

Shares of TSE ATS opened at C$43.40 on Tuesday. ATS has a 52-week low of C$41.12 and a 52-week high of C$64.80. The company has a market cap of C$4.25 billion, a PE ratio of 22.03 and a beta of 1.45. The firm’s 50 day moving average price is C$45.45 and its 200-day moving average price is C$51.22.

About ATS

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.