Scotiabank Has Lowered Expectations for ATS (TSE:ATS) Stock Price

ATS (TSE:ATS) had its price objective decreased by research analysts at Scotiabank from C$29.00 to C$27.00 in a report released on Thursday, BayStreet reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank‘s price objective would suggest a potential upside of 11.29% from the company’s previous close.

Several other research firms have also weighed in on ATS. Stifel Nicolaus reduced their price objective on shares of ATS from C$44.00 to C$41.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank Of Canada lowered their target price on shares of ATS from C$41.00 to C$36.00 and set an “outperform” rating for the company in a research note on Thursday. National Bank Financial cut their target price on shares of ATS from C$42.00 to C$41.00 and set an “outperform” rating on the stock in a report on Thursday. TD Securities cut shares of ATS from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Raymond James Financial decreased their price target on shares of ATS from C$33.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ATS currently has a consensus rating of “Moderate Buy” and an average price target of C$36.06.

ATS Stock Performance

ATS traded down C$0.33 during midday trading on Thursday, reaching C$24.26. 393,372 shares of the company were exchanged, compared to its average volume of 319,072. ATS has a one year low of C$23.84 and a one year high of C$49.48. The stock has a market capitalization of C$2.38 billion, a P/E ratio of 50.54 and a beta of 0.96. The stock’s 50-day simple moving average is C$26.32 and its 200 day simple moving average is C$36.65.

ATS (TSE:ATS) last posted its earnings results on Wednesday, November 4th. The company reported C($0.05) earnings per share (EPS) for the quarter. The company had revenue of C$665.77 million for the quarter. ATS had a return on equity of 2.66% and a net margin of 1.61%.

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.