ATS (NYSE:ATS) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded ATS from “buy” to “hold”, adding to a mixed analyst picture that now leaves the stock with a consensus Hold rating and an average price target of $42.50.
• ATS shares were up 0.8% to $27.97 in Friday trading, though that remains below both its 50-day and 200-day moving averages, suggesting recent weakness.
• The company recently missed EPS estimates in its latest quarterly report, even though revenue came in slightly above expectations; institutional ownership remains high at 75.84%.

ATS (NYSE:ATS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

A number of other research firms have also commented on ATS. Weiss Ratings raised shares of ATS from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, May 27th. Scotiabank reissued an "outperform" rating on shares of ATS in a research note on Tuesday, April 28th. Desjardins assumed coverage on ATS in a report on Tuesday, June 16th. They issued a "buy" rating for the company. Royal Bank Of Canada decreased their target price on ATS from $51.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, May 29th. Finally, Zacks Research downgraded ATS from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, ATS has a consensus rating of "Hold" and an average price target of $42.50.

ATS Trading Up 0.8%

NYSE ATS traded up $0.23 on Friday, hitting $27.97. 97,414 shares of the company were exchanged, compared to its average volume of 152,820. The company's 50 day moving average price is $30.04 and its 200-day moving average price is $30.11. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.36. The firm has a market capitalization of $2.74 billion, a P/E ratio of 53.79 and a beta of 1.21. ATS has a twelve month low of $23.84 and a twelve month high of $35.82.

ATS (NYSE:ATS - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $535.09 million during the quarter, compared to analyst estimates of $529.43 million. ATS had a return on equity of 9.40% and a net margin of 2.40%. Analysts predict that ATS will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in ATS by 22.3% in the 4th quarter. Royce & Associates LP now owns 164,500 shares of the company's stock worth $4,532,000 after purchasing an additional 30,000 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of ATS by 9.6% during the 4th quarter. Legal & General Group Plc now owns 542,023 shares of the company's stock valued at $14,930,000 after buying an additional 47,414 shares during the last quarter. Norges Bank acquired a new stake in shares of ATS during the 4th quarter valued at about $29,727,000. AYAL Capital Advisors Ltd bought a new stake in shares of ATS in the 4th quarter valued at approximately $1,988,000. Finally, Purpose Unlimited Inc. bought a new stake in shares of ATS in the 4th quarter valued at approximately $793,000. 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.

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