ATS (NYSE:ATS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ATS (NYSE:ATS) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of ATS in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of ATS from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday. Scotiabank raised shares of ATS from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of ATS from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.00.

ATS Price Performance

ATS stock opened at $30.66 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. ATS has a fifty-two week low of $20.90 and a fifty-two week high of $32.73. The business has a 50 day moving average price of $27.31 and a 200 day moving average price of $27.82. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -3,062.44 and a beta of 1.21.

ATS (NYSE:ATS) last posted its earnings results on Wednesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. ATS had a negative net margin of 0.08% and a positive return on equity of 8.82%. The firm had revenue of $524.03 million for the quarter, compared to the consensus estimate of $721.51 million. During the same period last year, the firm posted $0.25 EPS. The company’s revenue was up 18.9% on a year-over-year basis. Equities research analysts anticipate that ATS will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATS

Hedge funds and other institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its position in shares of ATS by 28.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,434,005 shares of the company’s stock worth $205,330,000 after buying an additional 1,416,009 shares in the last quarter. Norges Bank acquired a new stake in shares of ATS in the second quarter valued at approximately $32,789,000. Alberta Investment Management Corp acquired a new stake in shares of ATS in the third quarter valued at approximately $11,061,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of ATS by 19.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,369,028 shares of the company’s stock worth $75,603,000 after purchasing an additional 392,874 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of ATS by 45.2% during the 3rd quarter. Bank of America Corp DE now owns 1,251,695 shares of the company’s stock worth $32,794,000 after purchasing an additional 389,862 shares during the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

About ATS

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.