ATS (NYSE:ATS) Sets New 52-Week Low – What’s Next?

ATS Corporation (NYSE:ATS) hit a new 52-week low on Thursday . The company traded as low as $19.14 and last traded at $21.4910, with a volume of 74905 shares. The stock had previously closed at $27.95.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ATS shares. Zacks Research downgraded ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Desjardins started coverage on ATS in a research report on Tuesday, June 16th. They set a “buy” rating on the stock. Royal Bank Of Canada dropped their target price on ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Wall Street Zen cut shares of ATS from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Scotiabank restated an “outperform” rating on shares of ATS in a research note on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.50.

ATS Price Performance

The company’s fifty day moving average price is $27.75 and its 200 day moving average price is $29.93. The company has a market capitalization of $2.13 billion, a P/E ratio of 42.06 and a beta of 1.22. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.78.

ATS (NYSE:ATS) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $535.09 million during the quarter, compared to the consensus estimate of $529.43 million. ATS had a net margin of 2.40% and a return on equity of 9.40%. As a group, sell-side analysts forecast that ATS Corporation will post 1.34 EPS for the current year.

Institutional Trading of ATS

A number of institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC bought a new stake in shares of ATS during the 4th quarter valued at $29,000. Quarry LP bought a new position in shares of ATS in the third quarter worth $32,000. State of Wyoming bought a new position in shares of ATS in the first quarter worth $34,000. Raymond James Financial Inc. acquired a new position in ATS in the second quarter valued at about $43,000. Finally, Barclays PLC raised its stake in ATS by 16.8% in the fourth quarter. Barclays PLC now owns 5,264 shares of the company’s stock valued at $145,000 after purchasing an additional 756 shares in the last quarter. 75.84% of the stock is currently 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.