ATS (NYSE:ATS) Shares Down 7.9% – Here’s Why

Shares of ATS Corporation (NYSE:ATS) fell 7.9% on Tuesday . The stock traded as low as $27.98 and last traded at $28.22. 76,971 shares changed hands during trading, a decline of 21% from the average session volume of 97,093 shares. The stock had previously closed at $30.64.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of ATS from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday. Zacks Research upgraded ATS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded ATS from a “hold” rating to a “buy” rating in a research report on Saturday. Scotiabank raised ATS from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of ATS in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

ATS Stock Down 8.7%

The company has a market cap of $2.74 billion, a price-to-earnings ratio of -2,793.71 and a beta of 1.21. The stock has a 50-day simple moving average of $27.31 and a 200-day simple moving average of $27.82. The company has a current ratio of 1.63, a quick ratio of 1.34 and a debt-to-equity ratio of 0.84.

ATS (NYSE:ATS) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $524.03 million for the quarter, compared to analysts’ expectations of $721.51 million. ATS had a negative net margin of 0.08% and a positive return on equity of 8.82%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, analysts predict that ATS Corporation will post 1.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in ATS during the third quarter worth approximately $32,000. Raymond James Financial Inc. bought a new position in ATS during the 2nd quarter valued at $43,000. State of Wyoming acquired a new position in shares of ATS during the 3rd quarter valued at $112,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of ATS during the 2nd quarter valued at $233,000. Finally, SkyView Investment Advisors LLC bought a new stake in shares of ATS in the 2nd quarter worth $237,000. 75.84% of the stock is currently 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.