ATS (NYSE:ATS) Sets New 52-Week Low - What's Next?

Key Points

• ATS shares hit a new 52-week low, falling to $19.14 from a prior close of $27.95, with the stock last trading near $21.49.
• Analyst views are mixed: four analysts rate ATS a Buy, one Hold and two Sell, resulting in a consensus Hold rating and a $42.50 price target.
• ATS missed quarterly earnings expectations, reporting $0.26 per share versus the $0.32 consensus, although revenue of $535.09 million exceeded estimates.

ATS Corporation (NYSE:ATS - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $19.14 and last traded at $21.4910, with a volume of 74905 shares changing hands. The stock had previously closed at $27.95.

Wall Street Analysts Forecast Growth

ATS has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of ATS from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 27th. Wall Street Zen cut shares of ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Desjardins started coverage on shares of ATS in a research note on Tuesday, June 16th. They issued a "buy" rating for the company. Royal Bank Of Canada lowered their price objective on shares of ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, May 29th. Finally, Zacks Research cut shares of ATS from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $42.50.

ATS Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.36 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.13 billion, a P/E ratio of 42.06 and a beta of 1.22. The company has a 50 day moving average price of $27.75 and a 200 day moving average price of $29.93.

ATS (NYSE:ATS - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). ATS had a net margin of 2.40% and a return on equity of 9.40%. The business had revenue of $535.09 million during the quarter, compared to the consensus estimate of $529.43 million. On average, equities analysts predict that ATS Corporation will post 1.34 EPS for the current fiscal year.

Institutional Trading of ATS

A number of hedge funds have recently modified their holdings of ATS. Smartleaf Asset Management LLC acquired a new position in ATS in the 4th quarter valued at about $29,000. Quarry LP bought a new position in ATS in the 3rd quarter valued at about $32,000. State of Wyoming acquired a new stake in ATS during the first quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new stake in ATS during the second quarter worth approximately $43,000. Finally, Barclays PLC boosted 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 acquiring 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.

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