ATS Corporation (NYSE:ATS) Receives $42.50 Average Price Target from Brokerages

Shares of ATS Corporation (NYSE:ATS) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.50.

ATS has been the topic of several research analyst reports. Scotiabank reissued an “outperform” rating on shares of ATS in a research note on Tuesday, April 28th. Desjardins began coverage on shares of ATS in a research note on Tuesday, June 16th. They issued a “buy” rating for the company. Royal Bank Of Canada dropped their price objective on shares of ATS from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Weiss Ratings upgraded ATS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Finally, Zacks Research lowered ATS from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th.

ATS Trading Up 0.2%

Shares of ATS stock opened at $26.88 on Monday. ATS has a fifty-two week low of $23.84 and a fifty-two week high of $35.82. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.36 and a current ratio of 1.64. The stock has a 50 day simple moving average of $28.97 and a two-hundred day simple moving average of $30.08. The company has a market cap of $2.64 billion, a P/E ratio of 51.69 and a beta of 1.21.

ATS (NYSE:ATS) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $535.09 million for the quarter, compared to the consensus estimate of $529.43 million. ATS had a return on equity of 9.40% and a net margin of 2.40%. Research analysts forecast that ATS will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On ATS

Several hedge funds and other institutional investors have recently modified their holdings of ATS. Bank of Montreal Can raised its holdings in ATS by 187.1% during the fourth quarter. Bank of Montreal Can now owns 3,022,693 shares of the company’s stock worth $83,269,000 after buying an additional 1,970,040 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of ATS by 166.5% during the first quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company’s stock worth $64,544,000 after acquiring an additional 1,435,375 shares in the last quarter. Norges Bank bought a new stake in shares of ATS during the fourth quarter worth about $29,727,000. Alberta Investment Management Corp raised its holdings in shares of ATS by 217.5% in the 4th quarter. Alberta Investment Management Corp now owns 1,340,265 shares of the company’s stock worth $36,918,000 after acquiring an additional 918,100 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in ATS by 8.9% in the 4th quarter. Royal Bank of Canada now owns 7,644,547 shares of the company’s stock valued at $210,529,000 after acquiring an additional 623,369 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

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.