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

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

Analyst Ratings Changes

ATS has been the topic of a number of research analyst reports. Scotiabank raised their target price on shares of ATS from C$48.00 to C$51.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 28th. TD raised their target price on shares of ATS from C$48.00 to C$49.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank Of Canada cut their target price on shares of ATS from C$51.00 to C$50.00 and set an “outperform” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$50.17.

ATS Price Performance

The stock has a market cap of C$4.13 billion, a price-to-earnings ratio of 224.37 and a beta of 0.97. The business’s 50-day simple moving average is C$43.60 and its two-hundred day simple moving average is C$40.96.

ATS (TSE:ATS) last released its quarterly earnings results on Thursday, May 28th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$744.30 million during the quarter. ATS had a net margin of 2.41% and a return on equity of 4.08%.

Insider Activity

In other ATS news, insider Doug Wright purchased 8,600 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of C$40.20 per share, with a total value of C$345,720.00. Following the completion of the purchase, the insider owned 8,600 shares of the company’s stock, valued at approximately C$345,720. The trade was a ? increase in their ownership of the stock. 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.