Alberta Investment Management Corp Decreases Stake in ATS Corporation (NYSE:ATS)

Key Points

• Alberta Investment Management Corp reduced its shareholding in ATS Corporation by 11.1% in Q1, bringing its total to approximately 966,127 shares valued at $24,078,000.
• Several other institutional investors, including TD Asset Management Inc which increased its stake by 32.1%, demonstrate varying confidence levels in ATS Corporation’s stock amongst hedge funds.
• ATS Corporation reported Q1 earnings with $0.28 EPS, surpassing estimates, but its quarterly revenue fell by 27.5% compared to the previous year, highlighting potential challenges the company is facing.

Alberta Investment Management Corp decreased its holdings in ATS Corporation (NYSE:ATS - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 966,127 shares of the company's stock after selling 120,573 shares during the quarter. Alberta Investment Management Corp owned approximately 0.99% of ATS worth $24,078,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ATS. Tower Research Capital LLC TRC boosted its position in ATS by 561.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,171 shares of the company's stock valued at $66,000 after acquiring an additional 1,843 shares during the last quarter. Steph & Co. boosted its position in ATS by 223.6% during the first quarter. Steph & Co. now owns 5,317 shares of the company's stock valued at $133,000 after acquiring an additional 3,674 shares during the last quarter. Cidel Asset Management Inc. boosted its position in shares of ATS by 8.5% during the 1st quarter. Cidel Asset Management Inc. now owns 8,286 shares of the company's stock worth $207,000 after purchasing an additional 650 shares in the last quarter. Deutsche Bank AG boosted its position in shares of ATS by 41.6% during the 4th quarter. Deutsche Bank AG now owns 7,320 shares of the company's stock worth $223,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of ATS by 15.1% during the 1st quarter. Procyon Advisors LLC now owns 11,084 shares of the company's stock worth $276,000 after purchasing an additional 1,456 shares in the last quarter. Institutional investors own 75.84% of the company's stock.

ATS Stock Up 0.3%

NYSE ATS traded up $0.09 during trading hours on Tuesday, hitting $30.37. The company's stock had a trading volume of 46,434 shares, compared to its average volume of 136,497. ATS Corporation has a 52 week low of $20.90 and a 52 week high of $33.13. The company has a market capitalization of $2.97 billion, a PE ratio of -159.84 and a beta of 1.28. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 0.96. The company's 50-day simple moving average is $30.61 and its two-hundred day simple moving average is $28.07.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $503.20 million for the quarter, compared to analysts' expectations of $687.03 million. ATS had a negative net margin of 1.00% and a positive return on equity of 8.38%. The company's revenue was down 27.5% on a year-over-year basis. Research analysts anticipate that ATS Corporation will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ATS. Scotiabank raised shares of ATS to a "hold" rating in a research report on Tuesday, April 29th. Wall Street Zen raised shares of ATS from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

ATS Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.