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

ATS Co. (NYSE:ATS - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $30.39, but opened at $29.06. ATS shares last traded at $30.23, with a volume of 16,603 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on ATS. Scotiabank raised ATS to a "hold" rating in a research report on Tuesday, April 29th. Wall Street Zen raised ATS from a "sell" rating to a "hold" rating in a research report on Friday.

ATS Trading Down 4.1%

The stock has a 50-day simple moving average of $25.68 and a 200 day simple moving average of $27.88. The company has a current ratio of 1.92, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 43.89 and a beta of 1.06.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $503.20 million during the quarter, compared to analysts' expectations of $687.03 million. ATS had a return on equity of 9.95% and a net margin of 3.27%. The business's quarterly revenue was down 27.5% on a year-over-year basis. As a group, equities research analysts predict that ATS Co. will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On ATS

Several large investors have recently bought and sold shares of the company. Foresight Group Ltd Liability Partnership purchased a new stake in ATS during the 1st quarter worth approximately $9,627,000. Jane Street Group LLC increased its stake in ATS by 29.7% during the 1st quarter. Jane Street Group LLC now owns 42,085 shares of the company's stock worth $1,049,000 after buying an additional 9,636 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ATS by 79.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company's stock worth $10,821,000 after buying an additional 191,842 shares in the last quarter. Front Street Capital Management Inc. increased its stake in ATS by 2.9% during the 1st quarter. Front Street Capital Management Inc. now owns 288,962 shares of the company's stock worth $7,204,000 after buying an additional 8,132 shares in the last quarter. Finally, Select Equity Group L.P. purchased a new stake in shares of ATS in the first quarter valued at approximately $6,047,000. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

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.