Brokerages Set ATS Corporation (NYSE:ATS) Target Price at $35.00

ATS Corporation (NYSE:ATS) has earned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.00.

A number of brokerages have recently issued reports on ATS. JPMorgan Chase & Co. raised their target price on shares of ATS from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. TD Securities reiterated a “buy” rating on shares of ATS in a research note on Monday. Zacks Research upgraded shares of ATS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Scotiabank raised shares of ATS from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, November 5th. Finally, Wall Street Zen raised ATS from a “hold” rating to a “buy” rating in a report on Saturday, January 17th.

Institutional Inflows and Outflows

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

ATS Stock Down 1.3%

ATS opened at $28.93 on Monday. ATS has a one year low of $20.90 and a one year high of $32.73. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.34 and a current ratio of 1.63. The stock has a market capitalization of $2.84 billion, a P/E ratio of -2,890.11 and a beta of 1.21. The business’s 50-day simple moving average is $27.74 and its 200-day simple moving average is $27.79.

ATS (NYSE:ATS) last announced 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 during 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 was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Analysts anticipate that ATS will post 1.02 EPS for the current year.

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.