JPMorgan Chase & Co. Issues Positive Forecast for ATS (NYSE:ATS) Stock Price

ATS (NYSE:ATS) had its price objective upped by research analysts at JPMorgan Chase & Co. from $33.00 to $35.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.81% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Scotiabank upgraded ATS from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, November 5th. Zacks Research raised ATS from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of ATS in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

ATS Stock Down 0.1%

Shares of ATS traded down $0.04 during trading hours on Friday, hitting $30.49. 1,872 shares of the company were exchanged, compared to its average volume of 92,080. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.34 and a current ratio of 1.63. The company has a market cap of $2.99 billion, a PE ratio of -3,049.95 and a beta of 1.21. The firm’s 50 day moving average is $27.17 and its 200-day moving average is $27.90. ATS has a 52 week low of $20.90 and a 52 week high of $32.73.

ATS (NYSE:ATS) last posted its earnings results on Wednesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. ATS had a positive return on equity of 8.82% and a negative net margin of 0.08%.The firm had revenue of $524.03 million during the quarter, compared to analyst estimates of $721.51 million. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities research analysts forecast that ATS will post 1.02 EPS for the current fiscal year.

Institutional Trading of ATS

Several institutional investors have recently made changes to their positions in the business. EdgePoint Investment Group Inc. lifted its stake in ATS by 28.2% during the second quarter. EdgePoint Investment Group Inc. now owns 6,434,005 shares of the company’s stock worth $205,330,000 after purchasing an additional 1,416,009 shares during the period. Vanguard Group Inc. lifted its position in shares of ATS by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,341,435 shares of the company’s stock worth $87,419,000 after buying an additional 69,334 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in ATS by 19.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,369,028 shares of the company’s stock valued at $75,603,000 after buying an additional 392,874 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in ATS by 2.5% in the second quarter. Burgundy Asset Management Ltd. now owns 1,812,147 shares of the company’s stock valued at $57,687,000 after acquiring an additional 43,365 shares during the period. Finally, Mackenzie Financial Corp grew its position in ATS by 17.5% in the second quarter. Mackenzie Financial Corp now owns 1,410,833 shares of the company’s stock valued at $45,023,000 after acquiring an additional 210,570 shares during the period. 75.84% of the stock is currently owned by institutional investors and hedge funds.

About ATS

ATS Corporation (NYSE: ATS) is a Canada-based global provider of automation and energy solutions. Headquartered in Cambridge, Ontario, the company specializes in the design, engineering and manufacturing of custom automation and test systems, as well as fluid handling and control products. Since its founding in 1978, ATS has focused on delivering integrated hardware and software solutions that help original equipment manufacturers (OEMs) improve efficiency, quality and throughput across a range of industries.

Through its Automation segment, ATS develops bespoke assembly and testing platforms for sectors such as life sciences, consumer electronics, automotive and industrial equipment.