ATS Corporation (NYSE:ATS) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate ATS “Hold” on average: Of seven analysts, three recommend buying, three recommend holding, and one recommends selling. The average 12-month price target is $42.50.
• Recent results missed expectations: ATS reported quarterly EPS of $0.25 versus the $0.28 consensus estimate, while revenue of $488.38 million fell 5.8% year over year and missed forecasts.
• The stock has weakened significantly: ATS opened at $19.00, near its 52-week low of $17.15 and well below its 52-week high of $35.82. Institutional investors own approximately 75.84% of the company.

ATS Corporation (NYSE:ATS - Get Free Report) has earned an average recommendation of "Hold" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.50.

A number of research analysts have issued reports on the company. Wall Street Zen cut ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. TD Securities downgraded ATS from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings cut ATS from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Finally, Zacks Research upgraded ATS from a "strong sell" rating to a "hold" rating in a report on Monday, October 19th.

Hedge Funds Weigh In On ATS

A number of hedge funds have recently bought and sold shares of the company. Louisbourg Investments Inc. lifted its stake in shares of ATS by 16.4% in the third quarter. Louisbourg Investments Inc. now owns 129,312 shares of the company's stock worth $2,344,000 after buying an additional 18,208 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of ATS during the third quarter valued at approximately $325,000. Engineers Gate Manager LP grew its holdings in shares of ATS by 140.3% during the second quarter. Engineers Gate Manager LP now owns 31,363 shares of the company's stock valued at $903,000 after buying an additional 18,311 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of ATS during the second quarter valued at approximately $713,000. Finally, TD Waterhouse Canada Inc. increased its position in shares of ATS by 3.0% during the second quarter. TD Waterhouse Canada Inc. now owns 1,683,683 shares of the company's stock valued at $47,431,000 after acquiring an additional 49,234 shares in the last quarter. Institutional investors own 75.84% of the company's stock.

ATS Stock Performance

ATS stock opened at $19.00 on Wednesday. The firm has a 50 day moving average price of $18.85 and a 200-day moving average price of $26.76. ATS has a 52-week low of $17.15 and a 52-week high of $35.82. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 55.88 and a beta of 1.18.

ATS (NYSE:ATS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $488.38 million during the quarter, compared to the consensus estimate of $509.71 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm's revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that ATS will post 1.06 earnings per share for the current fiscal year.

ATS Company Profile

ATS Corporation is a Canadian automation solutions provider headquartered in Cambridge, Ontario. The company designs, builds and services automated manufacturing systems, production equipment and related technologies for manufacturers in a range of industries.

Its offerings include custom automation systems, assembly and test equipment, material-handling solutions, packaging systems, precision components and aftermarket services. ATS also provides automation software, controls, engineering, technical support and lifecycle services intended to improve production efficiency, quality and flexibility.

The company serves customers in sectors including life sciences, transportation, energy, consumer products and industrial manufacturing.

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.