Hill City Capital LP Invests $47.48 Million in ATS Corporation $ATS

Key Points

• Hill City Capital established a new 1.65 million-share position in ATS worth approximately $47.5 million, representing about 1.68% of the company; institutional investors collectively own 75.84% of ATS.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating. The consensus rating is Hold, with an average price target of $42.50.
• ATS reported weaker-than-expected quarterly results, with EPS of $0.25 versus $0.28 expected and revenue of $488.4 million versus $509.7 million estimates; revenue declined 5.8% year over year. Shares recently traded at $19.22, near their 12-month low.

Hill City Capital LP bought a new position in ATS Corporation (NYSE:ATS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,649,857 shares of the company's stock, valued at approximately $47,482,884. ATS comprises about 0.0% of Hill City Capital LP's investment portfolio, making the stock its 19th largest position. Hill City Capital LP owned about 1.68% of ATS as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Amundi grew its position in ATS by 5.4% in the 1st quarter. Amundi now owns 30,538 shares of the company's stock valued at $770,000 after acquiring an additional 1,562 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in ATS by 79.2% in the first quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company's stock worth $10,821,000 after buying an additional 191,842 shares during the last quarter. Jane Street Group LLC raised its position in ATS by 29.7% in the first quarter. Jane Street Group LLC now owns 42,085 shares of the company's stock worth $1,049,000 after purchasing an additional 9,636 shares in the last quarter. First Trust Advisors LP increased its stake in shares of ATS by 2.9% in the 2nd quarter. First Trust Advisors LP now owns 120,088 shares of the company's stock valued at $3,830,000 after acquiring an additional 3,382 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ATS in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 75.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ATS. Wall Street Zen cut shares of ATS from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Royal Bank Of Canada cut their price objective on ATS from $51.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, May 29th. Desjardins began coverage on shares of ATS in a research report on Tuesday, June 16th. They issued a "buy" rating for the company. Weiss Ratings raised ATS from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Finally, TD Securities lowered shares of ATS from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $42.50.

ATS Price Performance

ATS traded down $0.19 during trading on Friday, reaching $19.22. 244,110 shares of the company traded hands, compared to its average volume of 183,136. ATS Corporation has a 12-month low of $18.88 and a 12-month high of $35.82. The company has a market cap of $1.89 billion, a P/E ratio of 56.53 and a beta of 1.22. The firm has a fifty day simple moving average of $25.06 and a 200 day simple moving average of $28.87. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $488.38 million for the quarter, compared to analyst estimates of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. The company's revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities analysts forecast that ATS Corporation will post 1.12 EPS for the current year.

About ATS

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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