ATS (TSE:ATS) Stock Price Down 22.9% – Here’s What Happened

ATS Co. (TSE:ATS)’s stock price fell 22.9% during mid-day trading on Thursday . The company traded as low as C$28.00 and last traded at C$30.30. 1,460,172 shares changed hands during mid-day trading, an increase of 443% from the average daily volume of 268,793 shares. The stock had previously closed at C$39.30.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ATS. Royal Bank Of Canada cut their price target on shares of ATS from C$51.00 to C$50.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. TD boosted their target price on shares of ATS from C$48.00 to C$49.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Desjardins set a C$52.00 target price on shares of ATS and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Scotiabank increased their price target on shares of ATS from C$48.00 to C$51.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ATS has a consensus rating of “Buy” and an average target price of C$50.43.

ATS Trading Down 24.2%

The firm has a market capitalization of C$2.89 billion, a price-to-earnings ratio of 40.79 and a beta of 1.20. The business has a 50-day moving average price of C$39.03 and a two-hundred day moving average price of C$41.38.

ATS (TSE:ATS) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.35 earnings per share (EPS) for the quarter. The business had revenue of C$698.30 million during the quarter. ATS had a return on equity of 4.08% and a net margin of 2.41%.

Insider Activity at ATS

In other news, insider Angella Alexander purchased 915 shares of the stock in a transaction dated Tuesday, July 7th. The stock was acquired at an average price of C$39.12 per share, for a total transaction of C$35,794.80. Following the completion of the transaction, the insider owned 2,207 shares of the company’s stock, valued at approximately C$86,337.84. The trade was a 70.82% increase in their ownership of the stock. Also, insider Giuseppe (Joe) Tassone sold 4,842 shares of ATS stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$41.55, for a total transaction of C$201,185.10. Following the completion of the sale, the insider owned 7,026 shares in the company, valued at approximately C$291,930.30. This represents a 40.80% decrease in their ownership of the stock. In the last quarter, insiders have acquired 7,311 shares of company stock valued at $358,222. Company insiders own 0.97% of the company’s stock.

ATS Company Profile

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.