Royal Bank of Canada Issues Pessimistic Forecast for ATS (TSE:ATS) Stock Price

ATS (TSE:ATS) had its price target trimmed by Royal Bank of Canada from C$52.00 to C$48.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. Raymond James dropped their target price on shares of ATS from C$58.00 to C$52.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Cormark cut their price target on shares of ATS from C$59.00 to C$56.00 in a research note on Friday, August 9th. Finally, Stifel Nicolaus cut their price objective on ATS from C$58.00 to C$52.00 in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$55.14.

ATS Stock Performance

ATS traded up C$1.11 during trading on Thursday, reaching C$41.54. 59,101 shares of the company traded hands, compared to its average volume of 243,893. ATS has a 12-month low of C$33.47 and a 12-month high of C$60.01. The firm has a fifty day simple moving average of C$39.46 and a 200 day simple moving average of C$41.61. The company has a market cap of C$4.04 billion, a P/E ratio of 22.09 and a beta of 1.36.

ATS (TSE:ATS) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.50 EPS for the quarter, missing analysts’ consensus estimates of C$0.53 by C($0.03). ATS had a net margin of 6.10% and a return on equity of 11.30%. The business had revenue of C$694.30 million during the quarter, compared to the consensus estimate of C$689.19 million.

ATS Company Profile

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.