Royal Bank of Canada Lowers ATS (NYSE:ATS) Price Target to $65.00

ATS (NYSE:ATS) had its price objective reduced by Royal Bank of Canada from $69.00 to $65.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 75.49% from the company’s previous close.

Separately, TheStreet cut shares of ATS from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st.

ATS Price Performance

ATS stock opened at $37.04 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $39.62. ATS has a fifty-two week low of $30.90 and a fifty-two week high of $48.89. The company has a market cap of $3.66 billion and a PE ratio of 30.11.

ATS (NYSE:ATS) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). ATS had a return on equity of 19.25% and a net margin of 5.48%. The company had revenue of $548.46 million during the quarter, compared to the consensus estimate of $527.52 million. As a group, equities analysts expect that ATS will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATS

Several institutional investors and hedge funds have recently made changes to their positions in ATS. Osaic Holdings Inc. acquired a new position in shares of ATS in the 2nd quarter valued at $38,000. Bessemer Group Inc. acquired a new position in ATS in the 2nd quarter worth $111,000. Franklin Resources Inc. acquired a new position in ATS in the 2nd quarter worth $230,000. Psagot Value Holdings Ltd. Israel acquired a new position in ATS in the 3rd quarter worth $234,000. Finally, Shell Asset Management Co. acquired a new position in ATS in the 2nd quarter worth $269,000. Institutional investors and hedge funds own 75.13% of the company’s stock.

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.