1,089,460 Shares in ATS Corporation $ATS Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 1,089,460 ATS shares worth approximately $31.4 million, representing about 1.11% of the company. Institutional investors collectively own 75.84% of ATS.
• Analyst sentiment is mixed, with three Buy, three Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $42.50.
• ATS reported quarterly earnings of $0.25 per share, below the $0.28 estimate, while revenue fell 5.8% year over year to $488.38 million. The stock opened at $19.26, near its 52-week low of $19.05.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ATS Corporation (NYSE:ATS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,089,460 shares of the company's stock, valued at approximately $31,371,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.11% of ATS at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC purchased a new position in shares of ATS in the 4th quarter worth approximately $29,000. State of Wyoming bought a new position in shares of ATS during the 2nd quarter valued at approximately $33,000. Quarry LP purchased a new stake in ATS during the 3rd quarter valued at $32,000. Raymond James Financial Inc. purchased a new stake in ATS during the 2nd quarter valued at $43,000. Finally, Barclays PLC lifted its position in ATS by 16.8% in the fourth quarter. Barclays PLC now owns 5,264 shares of the company's stock worth $145,000 after buying an additional 756 shares during the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ATS has been the topic of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Desjardins began coverage on shares of ATS in a report on Tuesday, June 16th. They set a "buy" rating on the stock. Zacks Research lowered ATS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Weiss Ratings raised shares of ATS from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday. Finally, Wall Street Zen downgraded ATS from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $42.50.

ATS Trading Down 2.4%

NYSE:ATS opened at $19.26 on Tuesday. ATS Corporation has a 52 week low of $19.05 and a 52 week high of $35.82. The firm has a 50 day moving average of $25.57 and a 200 day moving average of $29.09. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 56.64 and a beta of 1.22.

ATS (NYSE:ATS - Get Free Report) last announced its 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 firm had revenue of $488.38 million during the quarter, compared to analyst estimates of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. ATS's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. As a group, sell-side analysts anticipate that ATS Corporation will post 1.12 earnings per share for the current fiscal 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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