Jupiter Topco LLC Invests $66.91 Million in ATS Corporation $ATS

Key Points

• Jupiter Topco LLC acquired 2.32 million ATS shares worth approximately $66.9 million, giving it a 2.37% stake. Several other institutional investors also initiated positions, and institutions collectively own 75.84% of the company.
• ATS shares were trading at $19.37, down 2.4%, near their 12-month low of $19.05 and well below the 12-month high of $35.82.
• ATS missed quarterly expectations, reporting $0.25 in EPS versus $0.28 expected and revenue of $488.4 million versus $509.7 million expected. Analysts’ consensus rating is Hold, with a target price of $42.50.

Jupiter Topco LLC acquired a new stake in ATS Corporation (NYSE:ATS - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,322,073 shares of the company's stock, valued at approximately $66,908,000. Jupiter Topco LLC owned 2.37% of ATS at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in ATS in the second quarter worth approximately $30,403,000. The Manufacturers Life Insurance Company bought a new position in shares of ATS during the 2nd quarter worth approximately $2,119,000. Front Street Capital Management Inc. bought a new position in shares of ATS during the 2nd quarter worth approximately $3,597,000. Hill City Capital LP acquired a new stake in shares of ATS during the 2nd quarter worth approximately $47,483,000. Finally, Cibc World Market Inc. acquired a new stake in shares of ATS during the 2nd quarter worth approximately $9,420,000. Institutional investors own 75.84% of the company's stock.

ATS Trading Down 2.4%

NYSE ATS opened at $19.37 on Friday. The business has a fifty day simple moving average of $25.06 and a 200 day simple moving average of $28.87. The firm has a market capitalization of $1.90 billion, a P/E ratio of 56.97 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. ATS Corporation has a 12 month low of $19.05 and a 12 month high of $35.82.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ATS shares. TD Securities downgraded shares of ATS from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Desjardins began coverage on shares of ATS in a report on Tuesday, June 16th. They issued a "buy" rating for the company. Weiss Ratings upgraded shares of ATS from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 20th. Zacks Research cut shares of ATS from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen downgraded ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.50.

ATS Company 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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