1,177,491 Shares in ATS Corporation $ATS Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp purchased 1,177,491 ATS shares worth approximately $33.9 million, giving it an estimated 1.2% stake. Institutional investors collectively own 75.84% of the company.
• Analyst sentiment has weakened, with several firms downgrading ATS; the stock carries a consensus “Hold” rating and a $42.50 average price target.
• ATS reported disappointing quarterly results, with EPS of $0.25 versus the $0.28 consensus estimate and revenue of $488.38 million, down 5.8% year over year. Shares opened at $20.29, near the company’s 12-month low.

Alberta Investment Management Corp purchased a new stake in shares of ATS Corporation (NYSE:ATS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,177,491 shares of the company's stock, valued at approximately $33,904,000. Alberta Investment Management Corp owned approximately 1.20% of ATS as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC bought a new stake in shares of ATS in the 4th quarter worth about $29,000. State of Wyoming purchased a new position in shares of ATS in the 2nd quarter worth approximately $33,000. Quarry LP purchased a new position in shares of ATS in the 3rd quarter worth approximately $32,000. Raymond James Financial Inc. bought a new position in shares of ATS during the 2nd quarter valued at approximately $43,000. Finally, Barclays PLC increased its position in shares of ATS by 16.8% during the 4th quarter. Barclays PLC now owns 5,264 shares of the company's stock valued at $145,000 after purchasing an additional 756 shares during the last quarter. Institutional investors own 75.84% of the company's stock.

Wall Street Analysts Forecast Growth

ATS has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their price objective on shares of ATS from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 29th. Wall Street Zen downgraded shares of ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings lowered shares of ATS from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Zacks Research cut shares of ATS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Finally, TD Securities downgraded shares of ATS from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.50.

ATS Stock Down 0.1%

Shares of ATS opened at $20.29 on Monday. The firm has a fifty day moving average price of $26.50 and a 200-day moving average price of $29.48. 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 firm has a market capitalization of $1.99 billion, a P/E ratio of 59.68 and a beta of 1.22. ATS Corporation has a 12-month low of $19.14 and a 12-month high of $35.82.

ATS (NYSE:ATS - Get Free Report) last posted its quarterly 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). ATS had a return on equity of 8.96% and a net margin of 1.60%.The company had revenue of $488.38 million during the quarter, compared to analysts' expectations of $509.71 million. During the same period in the prior year, the business earned $0.41 EPS. The company's quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that ATS Corporation will post 1.34 earnings per share 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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