TD Asset Management Inc Increases Stock Position in ATS Corporation (NYSE:ATS)

Key Points

• TD Asset Management Inc increased its holdings in ATS Corporation by 32.1%, acquiring an additional 280,831 shares, which brings its total ownership to approximately 1.18% of the company.
• Other institutional investors, such as Tower Research Capital LLC and Steph & Co., have also substantially increased their stakes in ATS during recent quarters, demonstrating growing interest in the company.
• ATS Corporation recently reported earnings per share of $0.28, exceeding consensus estimates, but experienced a 27.5% year-over-year revenue decline to $503.20 million.

TD Asset Management Inc lifted its stake in ATS Corporation (NYSE:ATS - Free Report) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,156,862 shares of the company's stock after purchasing an additional 280,831 shares during the period. TD Asset Management Inc owned about 1.18% of ATS worth $28,832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in ATS by 561.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,171 shares of the company's stock valued at $66,000 after buying an additional 1,843 shares in the last quarter. Steph & Co. raised its stake in ATS by 223.6% in the first quarter. Steph & Co. now owns 5,317 shares of the company's stock valued at $133,000 after buying an additional 3,674 shares in the last quarter. Cidel Asset Management Inc. raised its stake in ATS by 8.5% in the first quarter. Cidel Asset Management Inc. now owns 8,286 shares of the company's stock valued at $207,000 after buying an additional 650 shares in the last quarter. Deutsche Bank AG raised its stake in ATS by 41.6% in the fourth quarter. Deutsche Bank AG now owns 7,320 shares of the company's stock valued at $223,000 after buying an additional 2,149 shares in the last quarter. Finally, Procyon Advisors LLC raised its stake in ATS by 15.1% in the first quarter. Procyon Advisors LLC now owns 11,084 shares of the company's stock valued at $276,000 after buying an additional 1,456 shares in the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ATS shares. Scotiabank upgraded ATS to a "hold" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded ATS from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

ATS Stock Performance

ATS stock traded down $0.44 during trading on Friday, hitting $29.91. The company had a trading volume of 120,511 shares, compared to its average volume of 171,757. The firm has a market cap of $2.92 billion, a PE ratio of -157.42 and a beta of 1.28. ATS Corporation has a 1-year low of $20.90 and a 1-year high of $33.13. The firm has a 50-day moving average price of $30.52 and a 200-day moving average price of $28.02. The company has a quick ratio of 1.41, a current ratio of 1.69 and a debt-to-equity ratio of 0.96.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $503.20 million for the quarter, compared to analysts' expectations of $687.03 million. ATS had a positive return on equity of 8.38% and a negative net margin of 1.00%. The company's revenue for the quarter was down 27.5% compared to the same quarter last year. On average, analysts expect that ATS Corporation will post 1.02 earnings per share for the current year.

ATS Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.