Connor Clark & Lunn Investment Management Ltd. Acquires 304,890 Shares of ATS Corporation (NYSE:ATS)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in ATS Corporation by 18.2%, owning approximately 2.02% of the company with a value of $49.3 million.
• ATS Corporation reported earnings of $0.30 per share for the last quarter, exceeding analyst estimates, although its revenue was lower than expected at $541.11 million.
• Several institutional investors significantly raised their positions in ATS, with Fairfax Financial Holdings increasing its holdings by an astounding 4,285.2% in the fourth quarter.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ATS Corporation (NYSE:ATS - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,976,154 shares of the company's stock after acquiring an additional 304,890 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 2.02% of ATS worth $49,266,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ATS. Fairfax Financial Holdings Ltd. Can increased its holdings in ATS by 4,285.2% in the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 2,486,400 shares of the company's stock valued at $73,871,000 after buying an additional 2,429,700 shares during the period. TD Waterhouse Canada Inc. increased its holdings in ATS by 76.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,635,224 shares of the company's stock valued at $48,408,000 after buying an additional 710,923 shares during the period. Bank of America Corp DE increased its holdings in ATS by 79.3% in the 4th quarter. Bank of America Corp DE now owns 808,052 shares of the company's stock valued at $24,629,000 after buying an additional 357,322 shares during the period. Capital World Investors increased its holdings in ATS by 11.0% in the 4th quarter. Capital World Investors now owns 3,449,762 shares of the company's stock valued at $105,212,000 after buying an additional 341,904 shares during the period. Finally, TD Asset Management Inc increased its holdings in ATS by 32.1% in the 1st quarter. TD Asset Management Inc now owns 1,156,862 shares of the company's stock valued at $28,832,000 after buying an additional 280,831 shares during the period. 75.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ATS has been the topic of several research reports. Scotiabank raised shares of ATS to a "hold" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of ATS from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

ATS Stock Performance

NYSE:ATS traded down $0.13 on Tuesday, reaching $28.61. 146,155 shares of the company's stock were exchanged, compared to its average volume of 137,998. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.62 and a quick ratio of 1.32. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -105.96 and a beta of 1.28. ATS Corporation has a 52 week low of $20.90 and a 52 week high of $33.13. The stock has a fifty day simple moving average of $30.69 and a 200-day simple moving average of $28.15.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. ATS had a negative net margin of 1.44% and a positive return on equity of 7.79%. The firm had revenue of $541.11 million for the quarter, compared to the consensus estimate of $712.16 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that ATS Corporation will post 1.02 earnings per share for the current year.

About ATS

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.