Scotiabank Maintains a Buy Rating on ATS Automation Tool

By Austin Angelo

Yesterday, an analyst has provided a rating update for the Conglomerates sector company, ATS Automation Tool (TSX: ATA). The company received a Buy rating from Scotiabank’s analyst Mark Neville, with a C$16.50 price target.

Neville has an average return of 12.9% when recommending ATS Automation Tool.

According to TipRanks.com, Neville is ranked #271 out of 4572 analysts.

Currently, the analyst consensus on ATS Automation Tool is Moderate Buy and the average price target is C$14.83, representing a 31.7% upside.

In a report issued on May 15, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$15 price target.

Based on ATS Automation Tool’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$237 million and quarterly net profit of C$6.63 million. In comparison, last year the company earned revenue of C$247 million and had a net profit of C$1.38 million.

ATS Automation Tooling Systems, Inc. provides manufacturing solutions. The company engages in developing custom engineered turnkey automated manufacturing and test systems. It provides services to the industries such as, life sciences, computers, and electronics, and energy, transportation and consumer products. The company was founded by Klaus D. Woerner in 1978 and is headquartered in Cambridge, Canada.

The company’s shares closed last Tuesday at $11.26.