ATS (NYSE:ATS) Price Target Cut to $50.00 by Analysts at Royal Bank Of Canada

ATS (NYSE:ATS) had its target price decreased by equities research analysts at Royal Bank Of Canada from $51.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 63.08% from the company’s previous close.

A number of other research analysts also recently commented on ATS. Scotiabank reiterated an “outperform” rating on shares of ATS in a report on Tuesday, April 28th. Weiss Ratings upgraded ATS from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Zacks Research downgraded ATS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen downgraded ATS from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ATS currently has a consensus rating of “Hold” and a consensus target price of $42.50.

ATS Stock Up 0.8%

NYSE:ATS traded up $0.23 during midday trading on Friday, reaching $30.66. The company had a trading volume of 80,025 shares, compared to its average volume of 165,659. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 204.38 and a beta of 1.26. The stock’s fifty day simple moving average is $31.71 and its 200-day simple moving average is $29.75. ATS has a 12-month low of $23.84 and a 12-month high of $35.82. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.82.

ATS (NYSE:ATS) last released its earnings results on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $535.09 million during the quarter, compared to analysts’ expectations of $529.43 million. ATS had a net margin of 0.77% and a return on equity of 9.67%. On average, sell-side analysts anticipate that ATS will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATS

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in ATS by 11.6% in the 3rd quarter. Principal Financial Group Inc. now owns 874,140 shares of the company’s stock valued at $22,874,000 after acquiring an additional 90,700 shares during the period. Granite Investment Partners LLC increased its position in ATS by 34.5% in the 3rd quarter. Granite Investment Partners LLC now owns 205,847 shares of the company’s stock valued at $5,393,000 after acquiring an additional 52,807 shares during the period. Bastion Asset Management Inc. acquired a new position in ATS in the 3rd quarter valued at about $1,904,000. Alberta Investment Management Corp acquired a new position in ATS in the 3rd quarter valued at about $11,061,000. Finally, Public Sector Pension Investment Board acquired a new position in ATS in the 3rd quarter valued at about $1,620,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Company Profile

ATS Corporation (NYSE: ATS) is a Canada-based global provider of automation and energy solutions. Headquartered in Cambridge, Ontario, the company specializes in the design, engineering and manufacturing of custom automation and test systems, as well as fluid handling and control products. Since its founding in 1978, ATS has focused on delivering integrated hardware and software solutions that help original equipment manufacturers (OEMs) improve efficiency, quality and throughput across a range of industries.

Through its Automation segment, ATS develops bespoke assembly and testing platforms for sectors such as life sciences, consumer electronics, automotive and industrial equipment.