ATS (NYSE:ATS) Upgraded by Wall Street Zen to Buy Rating

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

ATS has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of ATS from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of ATS in a report on Wednesday, October 8th. Scotiabank upgraded ATS from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, November 5th. Finally, Zacks Research raised ATS from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. One 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

ATS Price Performance

Shares of ATS stock opened at $30.66 on Friday. The business has a fifty day simple moving average of $27.25 and a 200 day simple moving average of $27.87. The company has a market cap of $3.01 billion, a P/E ratio of -3,062.44 and a beta of 1.21. 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 twelve month low of $20.90 and a twelve month high of $32.73.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 valued at $75,603,000 after purchasing an additional 392,874 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of ATS during the second quarter worth $10,146,000. Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of ATS by 25.3% during the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 792,305 shares of the company’s stock worth $25,285,000 after buying an additional 159,814 shares during the period. Mackenzie Financial Corp raised its stake in ATS by 17.5% during the second quarter. Mackenzie Financial Corp now owns 1,410,833 shares of the company’s stock worth $45,023,000 after buying an additional 210,570 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in ATS by 28.2% in the second quarter. EdgePoint Investment Group Inc. now owns 6,434,005 shares of the company’s stock valued at $205,330,000 after buying an additional 1,416,009 shares during the period. 75.84% of the stock is owned by institutional investors.

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.