Polar Asset Management Partners Inc. Buys Shares of 105,203 ATS Corporation $ATS

Key Points

• Polar Asset Management Partners bought 105,203 ATS shares worth approximately $3.03 million, giving it a 0.11% stake. Institutional investors collectively own 75.84% of the company.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the overall consensus is Hold with a $42.50 price target.
• ATS recently missed quarterly expectations, reporting $0.25 in earnings per share versus $0.28 expected and revenue of $488.38 million versus $509.71 million. Revenue declined 5.8% year over year.

Polar Asset Management Partners Inc. purchased a new position in shares of ATS Corporation (NYSE:ATS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 105,203 shares of the company's stock, valued at approximately $3,028,000. Polar Asset Management Partners Inc. owned approximately 0.11% of ATS at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

ATS has been the topic of several research reports. Weiss Ratings upgraded shares of ATS from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Zacks Research cut shares of ATS from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 9th. Scotiabank reissued an "outperform" rating on shares of ATS in a research note on Tuesday, April 28th. TD Securities lowered shares of ATS from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $42.50.

ATS Stock Up 2.5%

Shares of NYSE:ATS opened at $19.72 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63. The company has a market cap of $1.93 billion, a PE ratio of 57.99 and a beta of 1.22. ATS Corporation has a 52 week low of $19.05 and a 52 week high of $35.82. The firm has a 50 day simple moving average of $25.41 and a 200 day simple moving average of $29.02.

ATS (NYSE:ATS - Get Free Report) last posted 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). ATS had a return on equity of 8.96% and a net margin of 1.60%.The firm had revenue of $488.38 million for the quarter, compared to analysts' expectations of $509.71 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts expect that ATS Corporation will post 1.12 earnings per share for the current year.

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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