The Manufacturers Life Insurance Company Acquires New Stake in ATS Corporation $ATS

The Manufacturers Life Insurance Company bought a new position in ATS Corporation (NYSE:ATS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 73,654 shares of the company’s stock, valued at approximately $2,119,000. The Manufacturers Life Insurance Company owned 0.08% of ATS at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA lifted its holdings in shares of ATS by 2.6% in the first quarter. Pictet Asset Management Holding SA now owns 16,423 shares of the company’s stock valued at $461,000 after buying an additional 417 shares during the period. Stifel Financial Corp raised its position in ATS by 3.9% in the fourth quarter. Stifel Financial Corp now owns 12,593 shares of the company’s stock worth $347,000 after acquiring an additional 467 shares in the last quarter. Barclays PLC raised its position in ATS by 16.8% in the fourth quarter. Barclays PLC now owns 5,264 shares of the company’s stock worth $145,000 after acquiring an additional 756 shares in the last quarter. Smartleaf Asset Management LLC bought a new stake in ATS in the fourth quarter worth about $29,000. Finally, State of Wyoming acquired a new stake in ATS in the 2nd quarter valued at about $33,000. 75.84% of the stock is owned by institutional investors.

ATS Trading Up 2.9%

Shares of ATS opened at $19.03 on Thursday. The business’s 50-day moving average price is $24.36 and its 200 day moving average price is $28.55. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.87 billion, a P/E ratio of 55.97 and a beta of 1.17. ATS Corporation has a 1-year low of $18.41 and a 1-year high of $35.82.

ATS (NYSE:ATS) last announced its earnings results on Thursday, August 6th. The company reported $0.25 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 analyst estimates of $509.71 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts expect that ATS Corporation will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Zacks Research cut shares of ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Desjardins began coverage on shares of ATS in a research note on Tuesday, June 16th. They set a “buy” rating for the company. Weiss Ratings upgraded shares of ATS from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Wall Street Zen lowered shares of ATS from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, TD Securities cut ATS from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ATS currently has a consensus rating of “Hold” and a consensus price target of $42.50.

ATS Company 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.