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

The Manufacturers Life Insurance Company acquired a new position in ATS Corporation (NYSE:ATS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 73,654 shares of the company’s stock, valued at approximately $2,119,000.

A number of other institutional investors have also recently bought and sold shares of ATS. Amundi grew its stake in ATS by 5.4% during the 1st quarter. Amundi now owns 30,538 shares of the company’s stock valued at $770,000 after acquiring an additional 1,562 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of ATS by 79.2% in 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 period. Jane Street Group LLC lifted its position in shares of ATS by 29.7% in the first 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 lifted its position 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ATS during the second quarter worth approximately $43,000. 75.84% of the stock is currently owned by institutional investors and hedge funds.

ATS Trading Up 2.9%

NYSE:ATS opened at $19.03 on Thursday. The company has a market capitalization of $1.87 billion, a P/E ratio of 55.97 and a beta of 1.17. The stock’s 50 day moving average price is $24.36 and its 200 day moving average price is $28.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63. ATS Corporation has a 52 week low of $18.41 and a 52 week high of $35.82.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. TD Securities downgraded shares of ATS from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen lowered shares of ATS from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Desjardins started coverage on shares of ATS in a report on Tuesday, June 16th. They set a “buy” rating on the stock. Zacks Research downgraded shares of ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Finally, Royal Bank Of Canada cut their price objective on ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.50.

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.