ATS Corporation (NYSE:ATS) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus “Hold” rating on ATS, with three buys, two holds and two sells. The average 12-month price target is $42.50.
• ATS reported quarterly revenue of $488.38 million and adjusted earnings of $0.25 per share, missing estimates of $509.71 million and $0.28, respectively; revenue declined 5.8% year over year.
• Institutional ownership stands at 75.84%, with several investment firms establishing new positions during the second quarter. The stock opened at $20.15, near its 12-month low of $19.14.

ATS Corporation (NYSE:ATS - Get Free Report) has been given an average rating of "Hold" by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $42.50.

A number of brokerages recently issued reports on ATS. Royal Bank Of Canada lowered their price objective on ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, May 29th. TD Securities cut shares of ATS from a "buy" rating to a "hold" rating in a research note on Monday. Scotiabank reaffirmed an "outperform" rating on shares of ATS in a report on Tuesday, April 28th. Zacks Research lowered shares of ATS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Finally, Desjardins assumed coverage on shares of ATS in a report on Tuesday, June 16th. They set a "buy" rating on the stock.

Institutional Investors Weigh In On ATS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hill City Capital LP purchased a new stake in ATS in the 2nd quarter worth approximately $47,483,000. Cibc World Market Inc. bought a new stake in ATS during the second quarter worth about $9,420,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ATS in the second quarter worth approximately $31,371,000. Caldwell Investment Management Ltd. purchased a new stake in shares of ATS in the 2nd quarter valued at $1,749,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in ATS during the second quarter valued at about $2,877,000. 75.84% of the stock is currently owned by institutional investors.

ATS Trading Down 1.0%

NYSE:ATS opened at $20.15 on Friday. ATS has a 12 month low of $19.14 and a 12 month high of $35.82. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. The firm's 50 day moving average is $26.63 and its 200 day moving average is $29.54. The stock has a market capitalization of $1.98 billion, a PE ratio of 59.26 and a beta of 1.22.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings data 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). ATS had a net margin of 1.60% and a return on equity of 8.96%. The firm had revenue of $488.38 million for the quarter, compared to the consensus estimate of $509.71 million. During the same period last year, the company posted $0.41 earnings per share. ATS's revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts expect that ATS will post 1.34 earnings per share for the current year.

ATS Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source