Beutel Goodman & Co Ltd. Buys 1,451,030 Shares of ATS Corporation $ATS

Key Points

• Beutel Goodman increased its ATS stake by 30.2%, buying 1,451,030 shares in the third quarter to own 6.25 million shares, or about 6.52% of the company.
• ATS reported quarterly EPS of $0.19, below the $0.22 consensus estimate; revenue of $467.6 million also missed forecasts and fell 8.6% year over year.
• Analysts have a consensus Hold rating on ATS, with an average price target of $42.50; institutional investors collectively own 75.84% of the stock.

Beutel Goodman & Co Ltd. increased its stake in shares of ATS Corporation (NYSE:ATS - Free Report) by 30.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,247,952 shares of the company's stock after purchasing an additional 1,451,030 shares during the period. Beutel Goodman & Co Ltd. owned approximately 6.52% of ATS worth $113,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Jupiter Topco LLC bought a new stake in ATS in the 2nd quarter worth approximately $66,908,000. Hill City Capital LP bought a new position in shares of ATS during the 2nd quarter valued at $47,483,000. Janus Henderson Group PLC boosted its stake in shares of ATS by 166.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company's stock worth $64,544,000 after buying an additional 1,435,375 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of ATS in the 2nd quarter worth $33,904,000. Finally, Bank of America Corp DE bought a new stake in shares of ATS in the second quarter worth $32,296,000. 75.84% of the stock is owned by hedge funds and other institutional investors.

ATS Trading Up 4.7%

Shares of ATS stock opened at $17.77 on Tuesday. ATS Corporation has a 1-year low of $16.97 and a 1-year high of $35.82. The company's fifty day simple moving average is $18.62 and its 200-day simple moving average is $26.25. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.63 and a quick ratio of 1.33. The stock has a market capitalization of $1.70 billion, a PE ratio of 16.89 and a beta of 1.15.

ATS (NYSE:ATS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.03). ATS had a return on equity of 7.94% and a net margin of 0.28%. The company had revenue of $467.59 million during the quarter, compared to analysts' expectations of $477.49 million. During the same quarter last year, the company earned $0.45 earnings per share. The company's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts anticipate that ATS Corporation will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ATS shares. TD Securities downgraded ATS from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings downgraded ATS from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Finally, Zacks Research raised shares of ATS from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Three equities research 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. According to data from MarketBeat, ATS currently has a consensus rating of "Hold" and an average target price of $42.50.

About ATS

ATS Corporation designs, builds and services automated manufacturing systems for companies seeking to improve production processes. Its offerings include custom automation equipment, robotics, assembly and testing systems, and related software and services.

The company serves customers across a range of industries, including life sciences, food and beverage, transportation, consumer products and energy. Its work can span the manufacturing lifecycle, from system design and integration to installation, maintenance and upgrades.

Based in Cambridge, Ontario, ATS has a history of developing automation solutions and serves customers internationally through operations in multiple regions.

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