ATS (NYSE:ATS) Shares Down 7.9% – Here’s Why
by Sarita Garza · The Markets DailyATS Corporation (NYSE:ATS – Get Free Report)’s share price traded down 7.9% on Tuesday . The company traded as low as $27.98 and last traded at $28.22. 76,971 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 97,093 shares. The stock had previously closed at $30.64.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on ATS shares. JPMorgan Chase & Co. lifted their price objective on ATS from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Research upgraded shares of ATS from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of ATS in a research note on Wednesday, October 8th. Scotiabank raised shares of ATS from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of ATS from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.00.
View Our Latest Stock Analysis on ATS
ATS Trading Down 8.7%
The company has a current ratio of 1.63, a quick ratio of 1.34 and a debt-to-equity ratio of 0.84. The business has a 50 day simple moving average of $27.31 and a two-hundred day simple moving average of $27.82. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -2,793.71 and a beta of 1.21.
ATS (NYSE:ATS – Get Free Report) 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. ATS had a positive return on equity of 8.82% and a negative net margin of 0.08%.The company had revenue of $524.03 million for the quarter, compared to analyst estimates of $721.51 million. During the same period in the prior year, the company posted $0.25 EPS. ATS’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that ATS Corporation will post 1.02 EPS for the current year.
Institutional Investors Weigh In On ATS
Several hedge funds and other institutional investors have recently modified their holdings of ATS. Quarry LP bought a new position in shares of ATS during the third quarter worth about $32,000. Raymond James Financial Inc. acquired a new position in shares of ATS in the 2nd quarter worth approximately $43,000. State of Wyoming acquired a new position in shares of ATS in the 3rd quarter worth approximately $112,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ATS in the 2nd quarter valued at approximately $233,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of ATS during the 2nd quarter valued at approximately $237,000. 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.