ATS Corporation (NYSE:ATS) Receives Average Recommendation of “Hold” from Brokerages

Shares of ATS Corporation (NYSE:ATS) have been given an average rating of “Hold” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $42.50.

Several research firms have commented on ATS. Wall Street Zen lowered ATS from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Zacks Research lowered shares of ATS from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Desjardins started coverage on shares of ATS in a report on Tuesday, June 16th. They issued a “buy” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of ATS in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada decreased their price target on shares of ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 29th.

Institutional Investors Weigh In On ATS

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its position in ATS by 1.5% in the 1st quarter. Royal Bank of Canada now owns 7,761,838 shares of the company’s stock valued at $218,884,000 after acquiring an additional 117,291 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of ATS by 4.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 7,168,112 shares of the company’s stock valued at $202,081,000 after purchasing an additional 279,327 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ATS by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,397,166 shares of the company’s stock valued at $93,582,000 after purchasing an additional 55,731 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of ATS by 187.1% in the fourth quarter. Bank of Montreal Can now owns 3,022,693 shares of the company’s stock valued at $83,269,000 after purchasing an additional 1,970,040 shares during the period. Finally, Jupiter Topco LLC purchased a new stake in shares of ATS during the second quarter worth approximately $66,908,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Stock Performance

Shares of ATS stock opened at $19.33 on Friday. The stock’s 50-day moving average is $25.90 and its two-hundred day moving average is $29.21. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 56.85 and a beta of 1.22. ATS has a 1 year low of $19.14 and a 1 year high of $35.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63.

ATS (NYSE:ATS) last posted its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $488.38 million during the quarter, compared to analysts’ expectations of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Analysts predict that ATS will post 1.2 earnings per share for the current year.

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.