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

Key Points

• ATS shares gapped down — the stock closed at $33.07 and opened at $31.69, last trading around $31.62 on light volume (1,220 shares).
• Analyst mix and target — two Buys, two Holds and one Sell leave an average rating of "Hold" with a consensus price target of $35.00 (JPMorgan raised its target to $35).
• Quarterly results were mixed — ATS beat EPS estimates ($0.34 vs. $0.30) but missed revenue materially ($553.8M vs. $723.0M); the company has a $3.08B market cap and a high trailing P/E of ~210.

ATS Corporation (NYSE:ATS - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $33.07, but opened at $31.69. ATS shares last traded at $31.6190, with a volume of 1,220 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on ATS shares. Wall Street Zen downgraded ATS from a "strong-buy" rating to a "buy" rating in a report on Sunday, February 15th. Scotiabank reissued an "outperform" rating on shares of ATS in a report on Tuesday. JPMorgan Chase & Co. increased their price target on ATS from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, January 16th. TD Securities reissued a "buy" rating on shares of ATS in a report on Monday, January 26th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of ATS in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ATS has an average rating of "Hold" and a consensus target price of $35.00.

ATS Trading Down 1.2%

The stock has a 50 day moving average of $30.86 and a 200-day moving average of $28.87. The company has a market capitalization of $3.08 billion, a P/E ratio of 209.63 and a beta of 1.16. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.82.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The company had revenue of $553.81 million during the quarter, compared to the consensus estimate of $722.96 million. ATS had a return on equity of 9.67% and a net margin of 0.77%.The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. On average, research analysts predict that ATS Corporation will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its position in shares of ATS by 2.6% during the first quarter. Pictet Asset Management Holding SA now owns 16,423 shares of the company's stock valued at $461,000 after buying an additional 417 shares during the last quarter. Stifel Financial Corp raised its position in shares of ATS by 3.9% during the fourth quarter. Stifel Financial Corp now owns 12,593 shares of the company's stock valued at $347,000 after buying an additional 467 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of ATS by 0.3% during the third quarter. Van Berkom & Associates Inc. now owns 269,994 shares of the company's stock valued at $7,062,000 after buying an additional 734 shares during the last quarter. Barclays PLC raised its position in shares of ATS by 16.8% during the fourth quarter. Barclays PLC now owns 5,264 shares of the company's stock valued at $145,000 after buying an additional 756 shares during the last quarter. Finally, Smartleaf Asset Management LLC bought a new stake in shares of ATS during the fourth quarter valued at approximately $29,000. 75.84% of the stock is currently owned by institutional investors.

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.

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.