ATS (NYSE:ATS) Sees Unusually-High Trading Volume – What’s Next?

ATS Corporation (NYSE:ATS) saw an uptick in trading volume on Friday . 97,699 shares changed hands during mid-day trading, a decline of 44% from the previous session’s volume of 173,671 shares.The stock last traded at $30.95 and had previously closed at $30.68.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATS. Zacks Research cut ATS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. TD Securities restated a “buy” rating on shares of ATS in a research report on Monday, January 26th. Wall Street Zen cut ATS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Scotiabank reaffirmed an “outperform” rating on shares of ATS in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on ATS from $33.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

ATS Stock Performance

The stock has a market cap of $3.01 billion, a P/E ratio of 204.33 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $30.33 and a two-hundred day moving average price of $28.34.

ATS (NYSE:ATS) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $553.81 million during the quarter, compared to analyst estimates of $722.96 million. ATS had a return on equity of 9.67% and a net margin of 0.77%.The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, sell-side analysts forecast that ATS Corporation will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. bought a new position in ATS during the fourth quarter valued at approximately $793,000. Invesco Ltd. boosted its stake in ATS by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,272,222 shares of the company’s stock valued at $35,037,000 after buying an additional 75,490 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in ATS during the fourth quarter valued at approximately $302,000. Guardian Capital LP bought a new position in ATS during the fourth quarter valued at approximately $1,298,000. Finally, Toronto Dominion Bank boosted its stake in ATS by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 81,910 shares of the company’s stock valued at $2,257,000 after buying an additional 6,455 shares during the last quarter. 75.84% of the stock is owned by institutional investors.

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.