ATS (NYSE:ATS) Shares Gap Down - Should You Sell?

ATS Corporation (NYSE:ATS - Get Free Report) 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 traded.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of ATS from a "sell" rating to a "hold" rating in a research report on Saturday. Scotiabank upgraded ATS to a "hold" rating in a report on Tuesday, April 29th.

ATS Trading Down 8.8%

The company has a 50 day simple moving average of $28.93 and a two-hundred day simple moving average of $27.89. The company has a market cap of $2.89 billion, a PE ratio of -155.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.41 and a current ratio of 1.69.

ATS (NYSE:ATS - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.28 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $687.03 million. The business's revenue was down 27.5% on a year-over-year basis. Sell-side analysts forecast that ATS Corporation will post 1.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of ATS by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 198,402 shares of the company's stock worth $6,048,000 after buying an additional 5,525 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of ATS by 333.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,671,264 shares of the company's stock valued at $50,905,000 after acquiring an additional 1,285,598 shares in the last quarter. Swiss National Bank boosted its position in ATS by 0.6% during the fourth quarter. Swiss National Bank now owns 164,500 shares of the company's stock worth $5,015,000 after purchasing an additional 900 shares during the period. Aviso Financial Inc. grew its holdings in ATS by 1.8% during the fourth quarter. Aviso Financial Inc. now owns 45,681 shares of the company's stock valued at $1,393,000 after purchasing an additional 826 shares during the last quarter. Finally, Intact Investment Management Inc. grew its holdings in ATS by 46.3% during the fourth quarter. Intact Investment Management Inc. now owns 392,160 shares of the company's stock valued at $11,959,000 after purchasing an additional 124,150 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company's stock.

ATS Company Profile

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.