ATS (NYSE:ATS) Shares Gap Up – Here’s Why

ATS Co. (NYSE:ATS)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $30.99, but opened at $32.18. ATS shares last traded at $32.38, with a volume of 14,757 shares changing hands.

Analyst Upgrades and Downgrades

ATS has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on ATS from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. The Goldman Sachs Group cut their target price on shares of ATS from $34.00 to $30.00 and set a “sell” rating for the company in a research report on Tuesday, August 13th.

ATS Stock Performance

The business’s 50-day moving average price is $29.91 and its 200-day moving average price is $30.05. The stock has a market cap of $3.21 billion, a P/E ratio of 32.28 and a beta of 1.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.71 and a current ratio of 2.08.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ATS by 4.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,457 shares of the company’s stock worth $565,000 after acquiring an additional 804 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of ATS by 28.4% in the third quarter. Van ECK Associates Corp now owns 4,230 shares of the company’s stock worth $132,000 after purchasing an additional 936 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of ATS by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 325,449 shares of the company’s stock valued at $9,446,000 after purchasing an additional 1,269 shares during the period. Geode Capital Management LLC lifted its stake in shares of ATS by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 38,987 shares of the company’s stock valued at $1,136,000 after buying an additional 1,920 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its holdings in ATS by 1.7% in the 2nd quarter. Thornburg Investment Management Inc. now owns 181,408 shares of the company’s stock worth $5,861,000 after buying an additional 2,958 shares during the period. Institutional investors own 75.84% of the company’s stock.

About ATS

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.