ATS (TSE:ATS) Shares Down 3.2% – Here’s Why

ATS Co. (TSE:ATS) shares fell 3.2% on Friday . The company traded as low as C$45.17 and last traded at C$45.17. 156,131 shares were traded during mid-day trading, a decline of 29% from the average session volume of 219,926 shares. The stock had previously closed at C$46.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATS. TD Securities upped their target price on ATS from C$46.00 to C$48.00 and gave the company a “buy” rating in a report on Monday, January 26th. Scotiabank upped their target price on ATS from C$47.00 to C$48.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$49.60.

ATS Trading Down 3.2%

The company has a market cap of C$4.38 billion, a price-to-earnings ratio of 237.74 and a beta of 0.94. The business has a fifty day moving average price of C$42.31 and a two-hundred day moving average price of C$39.71.

ATS (TSE:ATS) last announced its quarterly earnings results on Wednesday, February 4th. The company reported C$0.48 EPS for the quarter. The business had revenue of C$760.65 million during the quarter. ATS had a return on equity of 1.09% and a net margin of 0.67%.

Insider Activity at ATS

In other news, insider Doug Wright purchased 8,300 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of C$41.44 per share, with a total value of C$343,952.00. Following the purchase, the insider owned 16,900 shares in the company, valued at C$700,336. This represents a 96.51% increase in their position. Insiders own 0.97% of the company’s stock.

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.