K.J. Harrison & Partners Inc Makes New Investment in ATS Corporation $ATS

Key Points

• K.J. Harrison & Partners purchased 100,000 shares of ATS Corporation during the second quarter, valued at approximately $2.9 million and representing about 0.10% of the company. Institutional investors collectively own 75.84% of ATS.
• ATS reported quarterly earnings of $0.25 per share, below the $0.28 consensus estimate, while revenue fell 5.8% year over year to $488.38 million. The stock opened at $19.60, near its one-year low of $19.14.
• Analyst sentiment is mixed, with three Buy, two Hold and two Sell ratings, resulting in a consensus Hold rating and an average price target of $42.50.

K.J. Harrison & Partners Inc purchased a new position in ATS Corporation (NYSE:ATS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $2,877,000. K.J. Harrison & Partners Inc owned about 0.10% of ATS at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC purchased a new position in ATS in the fourth quarter worth $29,000. State of Wyoming bought a new stake in ATS during the second quarter worth about $33,000. Quarry LP purchased a new position in shares of ATS in the 3rd quarter worth about $32,000. Raymond James Financial Inc. purchased a new position in shares of ATS in the 2nd quarter worth about $43,000. Finally, Barclays PLC increased its position in shares of ATS by 16.8% during the 4th quarter. Barclays PLC now owns 5,264 shares of the company's stock valued at $145,000 after purchasing an additional 756 shares during the last quarter. Hedge funds and other institutional investors own 75.84% of the company's stock.

ATS Price Performance

ATS opened at $19.60 on Tuesday. The stock's 50 day simple moving average is $26.35 and its 200 day simple moving average is $29.41. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.63 and a quick ratio of 1.33. ATS Corporation has a 1 year low of $19.14 and a 1 year high of $35.82. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 57.65 and a beta of 1.22.

ATS (NYSE:ATS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $488.38 million during the quarter, compared to the consensus estimate of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, analysts predict that ATS Corporation will post 1.34 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on ATS shares. Desjardins began coverage on ATS in a research report on Tuesday, June 16th. They issued a "buy" rating for the company. Zacks Research downgraded shares of ATS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. TD Securities lowered shares of ATS from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Scotiabank reaffirmed an "outperform" rating on shares of ATS in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada reduced their target price on shares of ATS from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have 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 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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