Raymond James Issues Pessimistic Forecast for ATS (TSE:ATS) Stock Price

ATS (TSE:ATS) had its target price cut by stock analysts at Raymond James from C$52.00 to C$48.00 in a report released on Thursday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 19.25% from the company’s previous close.

Several other research analysts have also recently weighed in on ATS. Cormark reduced their price objective on ATS from C$59.00 to C$56.00 in a research report on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of ATS from C$58.00 to C$52.00 in a research note on Thursday. Finally, Royal Bank of Canada cut their price objective on shares of ATS from C$52.00 to C$48.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$55.14.

ATS Stock Performance

TSE ATS traded down C$0.46 during trading hours on Thursday, reaching C$40.25. 174,866 shares of the company’s stock were exchanged, compared to its average volume of 244,129. The company has a market capitalization of C$3.91 billion, a price-to-earnings ratio of 21.99 and a beta of 1.36. The company’s 50-day moving average is C$39.46 and its two-hundred day moving average is C$41.61. ATS has a one year low of C$33.47 and a one year high of C$60.01.

ATS (TSE:ATS) last issued its quarterly earnings data 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). The company had revenue of C$694.30 million for the quarter, compared to analyst estimates of C$689.19 million. ATS had a return on equity of 11.30% and a net margin of 6.10%.

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.