PenderFund Capital Management Ltd. Buys Shares of 37,700 ATS Corporation $ATS

PenderFund Capital Management Ltd. purchased a new position in shares of ATS Corporation (NYSE:ATS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,700 shares of the company’s stock, valued at approximately $1,087,000.

A number of other institutional investors also recently made changes to their positions in ATS. Bank of America Corp DE bought a new position in shares of ATS in the second quarter valued at approximately $32,296,000. Polar Asset Management Partners Inc. bought a new stake in ATS during the second quarter worth approximately $3,028,000. Jupiter Topco LLC bought a new stake in ATS during the second quarter worth approximately $66,908,000. Legal & General Group Plc bought a new stake in ATS during the second quarter worth approximately $30,403,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ATS in the second quarter worth approximately $2,119,000. 75.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ATS shares. Weiss Ratings raised ATS from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. TD Securities downgraded ATS from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Desjardins assumed coverage on ATS in a report on Tuesday, June 16th. They issued a “buy” rating for the company. Zacks Research cut ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Finally, Royal Bank Of Canada lowered their target price on ATS from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ATS presently has an average rating of “Hold” and an average price target of $42.50.

ATS Stock Down 2.4%

NYSE:ATS opened at $19.37 on Friday. The business’s fifty day moving average price is $25.06 and its 200 day moving average price is $28.87. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 56.97 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. ATS Corporation has a 1-year low of $19.05 and a 1-year high of $35.82.

ATS (NYSE:ATS) last released its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $488.38 million for the quarter, compared to analysts’ expectations of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, sell-side analysts forecast that ATS Corporation will post 1.12 earnings per share for the current fiscal 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.