TD Waterhouse Canada Inc. Lowers Stake in ATS Corporation $ATS

Key Points

• TD Waterhouse Canada cut its stake in ATS by 32.4% in Q4, selling 463,883 shares and leaving 966,349 shares (about 0.99% of the company) valued at roughly $26.5 million.
• ATS beat Q1 EPS estimates ($0.34 vs. $0.30) but missed on revenue ($553.8M vs. ~$723M consensus) despite 16.7% YoY revenue growth; the company has a market cap of $3.21B and a high P/E of 218.
• Analyst sentiment is mixed with an average rating of "Hold" and a $35 consensus target (two Buys, two Holds, one Sell), though firms like JPMorgan and TD Securities have recently been more positive.

TD Waterhouse Canada Inc. lessened its position in shares of ATS Corporation (NYSE:ATS - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 966,349 shares of the company's stock after selling 463,883 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.99% of ATS worth $26,496,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ATS. Amundi grew its position in ATS by 5.4% during the first quarter. Amundi now owns 30,538 shares of the company's stock valued at $770,000 after acquiring an additional 1,562 shares during the period. Goldman Sachs Group Inc. grew its position in ATS by 79.2% during the first quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company's stock valued at $10,821,000 after acquiring an additional 191,842 shares during the period. Jane Street Group LLC grew its position in ATS by 29.7% during the first quarter. Jane Street Group LLC now owns 42,085 shares of the company's stock valued at $1,049,000 after acquiring an additional 9,636 shares during the period. First Trust Advisors LP boosted its position in shares of ATS by 2.9% in the second quarter. First Trust Advisors LP now owns 120,088 shares of the company's stock worth $3,830,000 after buying an additional 3,382 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of ATS in the second quarter worth about $43,000. Hedge funds and other institutional investors own 75.84% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATS. JPMorgan Chase & Co. upped their target price on ATS from $33.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, January 16th. TD Securities reaffirmed a "buy" rating on shares of ATS in a research report on Monday, January 26th. Wall Street Zen downgraded ATS from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 15th. Zacks Research downgraded ATS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of ATS in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $35.00.

ATS Price Performance

Shares of NYSE ATS opened at $32.70 on Monday. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 218.01 and a beta of 1.16. ATS Corporation has a 1-year low of $23.11 and a 1-year high of $33.26. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.65 and a quick ratio of 1.37. The business has a 50-day moving average of $30.57 and a 200-day moving average of $28.54.

ATS (NYSE:ATS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. The firm had revenue of $553.81 million during the quarter, compared to the consensus estimate of $722.96 million. ATS had a return on equity of 9.67% and a net margin of 0.77%.ATS's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that ATS Corporation will post 1.02 EPS for the current fiscal 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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