ATS (NYSE:ATS) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• ATS shares rose above their 50-day moving average, reaching $19.33 and last trading at $18.91, compared with the $18.80 average. However, the stock remained below its 200-day moving average of $26.55.
• Analyst sentiment is mixed but leans toward “Hold”: three analysts rate ATS a Buy, three a Hold and one a Sell, with a consensus price target of $42.50.
• ATS missed quarterly expectations, reporting earnings of $0.25 per share versus $0.28 expected and revenue of $488.38 million versus $509.71 million. Revenue declined 5.8% year over year, while institutional investors own 75.84% of the stock.

ATS Corporation (NYSE:ATS - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $18.80 and traded as high as $19.33. ATS shares last traded at $18.91, with a volume of 220,055 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ATS shares. Weiss Ratings downgraded shares of ATS from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. TD Securities lowered shares of ATS from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Zacks Research raised shares of ATS from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Finally, Wall Street Zen downgraded shares of ATS from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ATS currently has an average rating of "Hold" and a consensus target price of $42.50.

ATS Price Performance

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 55.62 and a beta of 1.18. The company has a 50-day moving average of $18.80 and a 200-day moving average of $26.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63.

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 analysts' consensus estimates of $0.28 by ($0.03). ATS had a return on equity of 8.96% and a net margin of 1.60%. The company had revenue of $488.38 million for the quarter, compared to analyst estimates of $509.71 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm's revenue was down 5.8% compared to the same quarter last year. As a group, equities research analysts predict that ATS Corporation will post 1.06 earnings per share for the current year.

Institutional Investors Weigh In On ATS

Several large investors have recently modified their holdings of the stock. Jupiter Topco LLC acquired a new stake in shares of ATS in the 2nd quarter worth $66,908,000. Hill City Capital LP acquired a new position in shares of ATS during the second quarter worth about $47,483,000. Janus Henderson Group PLC increased its stake in shares of ATS by 166.5% during the first quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company's stock worth $64,544,000 after acquiring an additional 1,435,375 shares during the period. Alberta Investment Management Corp acquired a new position in shares of ATS during the second quarter worth about $33,904,000. Finally, Bank of America Corp DE purchased a new position in ATS during the second quarter worth about $32,296,000. Hedge funds and other institutional investors own 75.84% of the company's stock.

About ATS

ATS Corporation is a Canadian automation solutions provider headquartered in Cambridge, Ontario. The company designs, builds and services automated manufacturing systems, production equipment and related technologies for manufacturers in a range of industries.

Its offerings include custom automation systems, assembly and test equipment, material-handling solutions, packaging systems, precision components and aftermarket services. ATS also provides automation software, controls, engineering, technical support and lifecycle services intended to improve production efficiency, quality and flexibility.

The company serves customers in sectors including life sciences, transportation, energy, consumer products and industrial manufacturing.

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