ATS (NYSE:ATS) Hits New 12-Month Low – Here’s What Happened

ATS Corporation (NYSE:ATS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.88 and last traded at $19.21, with a volume of 244110 shares. The stock had previously closed at $19.21.

Analysts Set New Price Targets

Several analysts have recently commented on ATS shares. Weiss Ratings upgraded ATS from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Royal Bank Of Canada dropped their target price on ATS from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Zacks Research lowered ATS from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. TD Securities cut ATS from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Wall Street Zen downgraded ATS from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.50.

ATS Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 56.12 and a beta of 1.22. The stock’s 50 day simple moving average is $24.89 and its 200-day simple moving average is $28.80.

ATS (NYSE:ATS) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). ATS had a return on equity of 8.96% and a net margin of 1.60%.The company had revenue of $488.38 million for the quarter, compared to analyst estimates of $509.71 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that ATS Corporation will post 1.12 EPS for the current fiscal year.

Institutional Trading of ATS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATS. Smartleaf Asset Management LLC acquired a new stake in ATS during the 4th quarter worth about $29,000. Quarry LP purchased a new position in shares of ATS in the third quarter worth about $32,000. State of Wyoming purchased a new position in shares of ATS in the second quarter worth about $33,000. Raymond James Financial Inc. acquired a new stake in shares of ATS during the second quarter worth about $43,000. Finally, Barclays PLC lifted its holdings in shares of ATS by 16.8% during the fourth quarter. Barclays PLC now owns 5,264 shares of the company’s stock worth $145,000 after purchasing an additional 756 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

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.