Front Street Capital Management Inc. Invests $3.60 Million in ATS Corporation $ATS

Front Street Capital Management Inc. purchased a new stake in shares of ATS Corporation (NYSE:ATS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 124,973 shares of the company’s stock, valued at approximately $3,597,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi raised its holdings in ATS by 5.4% in the 1st quarter. Amundi now owns 30,538 shares of the company’s stock worth $770,000 after acquiring an additional 1,562 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ATS by 79.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company’s stock valued at $10,821,000 after purchasing an additional 191,842 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of ATS by 29.7% in the 1st quarter. Jane Street Group LLC now owns 42,085 shares of the company’s stock worth $1,049,000 after purchasing an additional 9,636 shares in the last quarter. First Trust Advisors LP raised its stake 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 purchasing an additional 3,382 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of ATS in the second quarter worth $43,000. Institutional investors own 75.84% of the company’s stock.

Wall Street Analysts Forecast Growth

ATS has been the topic of several recent analyst reports. Desjardins began coverage on ATS in a research report on Tuesday, June 16th. They set a “buy” rating on the stock. Wall Street Zen cut shares of ATS from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. TD Securities lowered shares of ATS from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of ATS from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of ATS in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.50.

ATS Stock Down 2.4%

ATS stock opened at $19.26 on Tuesday. ATS Corporation has a twelve month low of $19.05 and a twelve month high of $35.82. The company has a quick ratio of 1.33, a current ratio of 1.63 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.89 billion, a P/E ratio of 56.64 and a beta of 1.22. The business’s 50-day moving average price is $25.57 and its 200-day moving average price is $29.09.

ATS (NYSE:ATS) last released its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $509.71 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts forecast that ATS Corporation will post 1.12 EPS 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.