ATS (NYSE:ATS) Shares Gap Down - Here's What Happened

ATS Corporation (NYSE:ATS - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $32.49, but opened at $29.24. ATS shares last traded at $30.01, with a volume of 71,850 shares trading hands.

Analyst Ratings Changes

Several research firms have recently issued reports on ATS. Scotiabank raised ATS to a "hold" rating in a research note on Tuesday, April 29th. Wall Street Zen raised ATS from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

ATS Price Performance

The firm has a market capitalization of $2.88 billion, a P/E ratio of -155.47 and a beta of 1.28. The firm has a 50 day moving average price of $29.17 and a 200-day moving average price of $27.90. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 0.96.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. ATS had a positive return on equity of 8.38% and a negative net margin of 1.00%. The firm had revenue of $503.20 million during the quarter, compared to analyst estimates of $687.03 million. ATS's quarterly revenue was down 27.5% compared to the same quarter last year. On average, analysts expect that ATS Corporation will post 1.02 earnings per share for the current year.

Institutional Investors Weigh In On ATS

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of ATS by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 3,229,265 shares of the company's stock worth $98,486,000 after acquiring an additional 51,365 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ATS by 1.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,571 shares of the company's stock worth $2,547,000 after acquiring an additional 1,053 shares during the last quarter. Norges Bank bought a new stake in shares of ATS during the 4th quarter worth approximately $31,295,000. Mariner LLC increased its holdings in ATS by 8.0% during the 4th quarter. Mariner LLC now owns 9,328 shares of the company's stock worth $284,000 after purchasing an additional 689 shares during the period. Finally, Bank of America Corp DE increased its holdings in ATS by 79.3% during the 4th quarter. Bank of America Corp DE now owns 808,052 shares of the company's stock worth $24,629,000 after purchasing an additional 357,322 shares during the period. 75.84% of the stock is owned by institutional investors.

About ATS

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.