ATS (NYSE:ATS) Trading Up 7.1% - Here's What Happened

Key Points

• ATS shares rose 7.1% intraday to a high of $30.61 and last traded around $30.30 on about 100,492 shares, roughly 47% below the stock's average daily volume.
• Quarterly results showed EPS of $0.34 (beating estimates by $0.04) while revenue missed at $553.8M versus $723M expected, though revenue was up 16.7% year‑over‑year.
• Analysts are mixed with an average Hold rating and a $35 average target; JPMorgan raised its price objective to $35, and analyst coverage breaks down to two Buys, two Holds and one Sell.

ATS Corporation (NYSE:ATS - Get Free Report)'s share price rose 7.1% during mid-day trading on Wednesday . The stock traded as high as $30.61 and last traded at $30.2950. Approximately 100,492 shares changed hands during trading, a decline of 47% from the average daily volume of 189,288 shares. The stock had previously closed at $28.29.

Wall Street Analysts Forecast Growth

ATS has been the subject of several recent research reports. Scotiabank reiterated an "outperform" rating on shares of ATS in a report on Thursday, January 29th. Wall Street Zen cut ATS from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 15th. Weiss Ratings reissued a "sell (d)" rating on shares of ATS in a research report on Wednesday, January 21st. TD Securities reissued a "buy" rating on shares of ATS in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. boosted their price objective on ATS from $33.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.00.

ATS Price Performance

The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $30.25 and a 200 day moving average price of $28.30. The stock has a market cap of $2.97 billion, a PE ratio of 201.98 and a beta of 1.16.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. ATS had a return on equity of 9.67% and a net margin of 0.77%.The firm had revenue of $553.81 million for the quarter, compared to analysts' expectations of $722.96 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts forecast that ATS Corporation will post 1.02 earnings per share for the current fiscal year.

Institutional Trading of ATS

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC purchased a new stake in ATS during the 4th quarter worth about $29,000. Quarry LP purchased a new stake in ATS during the 3rd quarter worth about $32,000. Raymond James Financial Inc. purchased a new stake in ATS during the 2nd quarter worth about $43,000. State of Wyoming purchased a new stake in ATS during the 3rd quarter worth about $112,000. Finally, Barclays PLC lifted its holdings in ATS by 16.8% during the 4th quarter. Barclays PLC now owns 5,264 shares of the company's stock worth $145,000 after purchasing an additional 756 shares in the last quarter. Hedge funds and other institutional investors 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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