ATS (TSE:ATS) Price Target Cut to C$61.00

ATS (TSE:ATS) had its price objective decreased by equities research analysts at Scotiabank from C$70.00 to C$61.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 19.42% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Cormark dropped their target price on ATS from C$73.00 to C$68.00 in a research report on Thursday. TD Securities decreased their price target on shares of ATS from C$70.00 to C$62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Royal Bank of Canada set a C$69.00 price target on shares of ATS and gave the company an “outperform” rating in a research note on Monday, September 25th. Finally, Raymond James decreased their price target on shares of ATS from C$67.00 to C$61.00 and set an “outperform” rating for the company in a research note on Tuesday, October 31st.

ATS Stock Up 3.6 %

Shares of TSE:ATS opened at C$51.08 on Thursday. ATS has a 1 year low of C$40.75 and a 1 year high of C$64.80. The company has a market cap of C$5.05 billion, a price-to-earnings ratio of 34.99 and a beta of 1.57.

ATS (TSE:ATS) last announced its earnings results on Wednesday, August 9th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.64 by C$0.05. ATS had a return on equity of 10.81% and a net margin of 4.99%. The business had revenue of C$753.65 million during the quarter, compared to analyst estimates of C$722.40 million. Analysts anticipate that ATS will post 2.6355506 EPS for the current fiscal year.

About ATS

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.