327,087 Shares in ATS Corporation $ATS Acquired by Cibc World Market Inc.

Key Points

• CIBC World Markets acquired 327,087 ATS shares worth approximately $9.42 million, giving it a 0.33% stake. Institutional investors collectively own 75.84% of ATS.
• ATS shares opened at $19.26, near their 52-week low of $19.05 and down significantly from the 52-week high of $35.82. The company recently missed quarterly earnings and revenue estimates, with revenue declining 5.8% year over year.
• 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.

Cibc World Market Inc. bought a new stake in shares of ATS Corporation (NYSE:ATS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 327,087 shares of the company's stock, valued at approximately $9,420,000. Cibc World Market Inc. owned 0.33% of ATS as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ATS in the 2nd quarter worth about $31,371,000. Caldwell Investment Management Ltd. acquired a new position in shares of ATS during the 2nd quarter valued at about $1,749,000. K.J. Harrison & Partners Inc bought a new position in shares of ATS in the second quarter valued at approximately $2,877,000. Deutsche Bank AG acquired a new position in ATS during the 2nd quarter worth $311,000. Finally, Alberta Investment Management Corp bought a new stake in ATS during the second quarter valued at about $33,904,000. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

ATS Stock Down 2.4%

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

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 net margin of 1.60% and a return on equity of 8.96%. The firm had revenue of $488.38 million during the quarter, compared to analyst estimates of $509.71 million. During the same period last year, the company earned $0.41 EPS. The company's revenue was down 5.8% on a year-over-year basis. On average, equities research analysts expect that ATS Corporation will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

ATS has been the topic of several research analyst reports. Desjardins began coverage on ATS in a research report on Tuesday, June 16th. They issued a "buy" rating on the stock. Scotiabank restated an "outperform" rating on shares of ATS in a research note on Tuesday, April 28th. Zacks Research lowered ATS from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. Wall Street Zen downgraded ATS from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded ATS from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $42.50.

ATS Company Profile

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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