EdgePoint Investment Group Inc. Raises Stock Holdings in ATS Corporation $ATS

Key Points

• EdgePoint Investment Group increased its ATS Corporation stake by 4.1% in the first quarter, bringing its holdings to 7.17 million shares valued at about $202.1 million, or 7.31% of ATS.
• ATS reported quarterly EPS of $0.26, below the $0.32 analyst consensus, while revenue of $535.1 million exceeded expectations. Shares opened at $26.52, near the lower end of their 52-week range.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $42.50; recent actions included downgrades from Zacks Research and Wall Street Zen, while RBC maintained an outperform rating.

EdgePoint Investment Group Inc. increased its holdings in shares of ATS Corporation (NYSE:ATS - Free Report) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,168,112 shares of the company's stock after acquiring an additional 279,327 shares during the period. ATS comprises 1.6% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 19th biggest position. EdgePoint Investment Group Inc. owned about 7.31% of ATS worth $202,081,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Bank of Montreal Can increased its stake in ATS by 187.1% in the 4th quarter. Bank of Montreal Can now owns 3,022,693 shares of the company's stock worth $83,269,000 after buying an additional 1,970,040 shares during the period. Norges Bank purchased a new position in shares of ATS during the fourth quarter worth approximately $29,727,000. Alberta Investment Management Corp raised its stake in shares of ATS by 217.5% during the fourth quarter. Alberta Investment Management Corp now owns 1,340,265 shares of the company's stock valued at $36,918,000 after acquiring an additional 918,100 shares in the last quarter. Royal Bank of Canada raised its stake in shares of ATS by 8.9% during the fourth quarter. Royal Bank of Canada now owns 7,644,547 shares of the company's stock valued at $210,529,000 after acquiring an additional 623,369 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of ATS by 45.2% in the third quarter. Bank of America Corp DE now owns 1,251,695 shares of the company's stock valued at $32,794,000 after purchasing an additional 389,862 shares during the period. Institutional investors own 75.84% of the company's stock.

ATS Stock Performance

Shares of ATS stock opened at $26.52 on Tuesday. The company has a market capitalization of $2.60 billion, a PE ratio of 51.01 and a beta of 1.21. The company has a 50-day simple moving average of $28.63 and a two-hundred day simple moving average of $30.03. ATS Corporation has a one year low of $23.84 and a one year high of $35.82. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.64.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). ATS had a return on equity of 9.40% and a net margin of 2.40%.The firm had revenue of $535.09 million during the quarter, compared to analysts' expectations of $529.43 million. Research analysts expect that ATS Corporation will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ATS shares. Zacks Research lowered ATS from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 9th. Wall Street Zen lowered shares of ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Scotiabank reiterated an "outperform" rating on shares of ATS in a report on Tuesday, April 28th. Royal Bank Of Canada cut their target price on shares of ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of ATS from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, ATS presently has a consensus rating of "Hold" and an average target price of $42.50.

ATS 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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