ATS (NYSE:ATS) Sets New 12-Month Low – Here’s What Happened

ATS Corporation (NYSE:ATS)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as $18.34 and last traded at $18.3290, with a volume of 93209 shares trading hands. The stock had previously closed at $18.82.

Wall Street Analysts Forecast Growth

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

ATS Price Performance

The firm’s 50 day moving average price is $21.31 and its two-hundred day moving average price is $26.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.63 and a quick ratio of 1.33. The stock has a market cap of $1.80 billion, a PE ratio of 53.91 and a beta of 1.17.

ATS (NYSE:ATS) last released 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 net margin of 1.60% and a return on equity of 8.96%. The business had revenue of $488.38 million during the quarter, compared to analysts’ expectations of $509.71 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. On average, research analysts expect that ATS Corporation will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATS. Royal Bank of Canada boosted its position in shares of ATS by 1.5% in the first quarter. Royal Bank of Canada now owns 7,761,838 shares of the company’s stock valued at $218,884,000 after acquiring an additional 117,291 shares during the period. EdgePoint Investment Group Inc. increased its holdings in shares of ATS by 4.1% in the first quarter. EdgePoint Investment Group Inc. now owns 7,168,112 shares of the company’s stock worth $202,081,000 after purchasing an additional 279,327 shares during the period. Jupiter Topco LLC purchased a new stake in shares of ATS in the second quarter worth $66,908,000. Janus Henderson Group PLC boosted its stake in ATS by 166.5% during the first quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company’s stock valued at $64,544,000 after buying an additional 1,435,375 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in ATS by 3.0% during the second quarter. TD Waterhouse Canada Inc. now owns 1,683,683 shares of the company’s stock worth $47,431,000 after buying an additional 49,234 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

About ATS

ATS Corporation (NYSE: ATS) is a Canadian automation and technology company that designs, builds and services customized manufacturing systems. The company helps manufacturers automate production, assembly, testing, inspection, packaging and material-handling processes, with solutions tailored to complex and high-volume applications.

ATS serves a range of industries, including life sciences, pharmaceuticals, medical devices, transportation, electric vehicles, energy, consumer products and industrial manufacturing.