ATS Corporation (NYSE:ATS) Receives Average Rating of "Hold" from Brokerages

Key Points

• ATS has a consensus “Hold” rating from seven analysts: three rate it a buy, three a hold, and one a sell. The average 12-month price target is $42.50.
• ATS reported weaker-than-expected quarterly results, with EPS of $0.25 versus a $0.28 estimate and revenue of $488.38 million versus $509.71 million expected. Revenue declined 5.8% year over year.
• Institutional investors and hedge funds own 75.84% of ATS, while the stock recently traded at $19.61—near its 52-week low of $18.41 and well below its 52-week high of $35.82.

ATS Corporation (NYSE:ATS - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $42.50.

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded ATS from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. TD Securities downgraded ATS from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Royal Bank Of Canada lowered their target price on ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 29th. Weiss Ratings raised ATS from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Finally, Zacks Research lowered ATS from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th.

Hedge Funds Weigh In On ATS

Several large investors have recently bought and sold shares of ATS. Royal Bank of Canada grew its position in ATS by 1.5% in the 1st quarter. Royal Bank of Canada now owns 7,761,838 shares of the company's stock worth $218,884,000 after purchasing an additional 117,291 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of ATS by 4.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 7,168,112 shares of the company's stock worth $202,081,000 after purchasing an additional 279,327 shares during the period. Vanguard Group Inc. raised its position in shares of ATS by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 3,397,166 shares of the company's stock valued at $93,582,000 after buying an additional 55,731 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of ATS by 187.1% in the fourth quarter. Bank of Montreal Can now owns 3,022,693 shares of the company's stock valued at $83,269,000 after buying an additional 1,970,040 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of ATS in the second quarter valued at about $66,908,000. 75.84% of the stock is currently owned by institutional investors and hedge funds.

ATS Price Performance

NYSE ATS opened at $19.61 on Tuesday. ATS has a 1 year low of $18.41 and a 1 year high of $35.82. The company has a fifty day simple moving average of $23.86 and a 200 day simple moving average of $28.30. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.92 billion, a P/E ratio of 57.68 and a beta of 1.17.

ATS (NYSE:ATS - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $488.38 million during the quarter, compared to the consensus estimate of $509.71 million. ATS had a return on equity of 8.96% and a net margin of 1.60%.The business's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. On average, sell-side analysts predict that ATS will post 1.12 EPS for the current year.

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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