Alberta Investment Management Corp Trims 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 cut its position in ATS Corporation (NYSE:ATS - Free Report) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 966,127 shares of the company's stock after selling 120,573 shares during the period. Alberta Investment Management Corp owned about 0.99% of ATS worth $24,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake 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 in the last quarter. Steph & Co. grew its stake 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 in the last quarter. Cidel Asset Management Inc. grew its stake in ATS by 8.5% during the first quarter. Cidel Asset Management Inc. now owns 8,286 shares of the company's stock valued at $207,000 after acquiring an additional 650 shares in the last quarter. Deutsche Bank AG grew its stake in ATS by 41.6% during the fourth quarter. Deutsche Bank AG now owns 7,320 shares of the company's stock valued at $223,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in ATS by 15.1% during the first quarter. Procyon Advisors LLC now owns 11,084 shares of the company's stock valued at $276,000 after acquiring an additional 1,456 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

ATS Price Performance

Shares of NYSE:ATS traded up $0.42 on Monday, reaching $30.27. The company's stock had a trading volume of 51,981 shares, compared to its average volume of 137,143. ATS Corporation has a 52-week low of $20.90 and a 52-week high of $33.13. The company has a market cap of $2.96 billion, a P/E ratio of -159.32 and a beta of 1.28. The company has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $28.07. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.41 and a current ratio of 1.69.

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

Analysts Set New Price Targets

Several research firms recently weighed in on ATS. Scotiabank raised shares of ATS to a "hold" rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of ATS from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

ATS Company 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.