CIBC Asset Management Inc Raises Stake in ATS Corporation $ATS

CIBC Asset Management Inc increased its stake in ATS Corporation (NYSE:ATS) by 69.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,854 shares of the company’s stock after purchasing an additional 55,151 shares during the quarter. CIBC Asset Management Inc’s holdings in ATS were worth $3,524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ATS. Amundi grew its position in ATS by 5.4% during the first quarter. Amundi now owns 30,538 shares of the company’s stock worth $770,000 after buying an additional 1,562 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of ATS by 79.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company’s stock worth $10,821,000 after acquiring an additional 191,842 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of ATS by 29.7% in the 1st quarter. Jane Street Group LLC now owns 42,085 shares of the company’s stock worth $1,049,000 after acquiring an additional 9,636 shares during the period. Aberdeen Group plc increased its stake in ATS by 21.5% in the 2nd quarter. Aberdeen Group plc now owns 16,205 shares of the company’s stock valued at $517,000 after purchasing an additional 2,869 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in ATS during the second quarter worth $233,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Stock Up 0.3%

ATS stock opened at $29.33 on Wednesday. The company has a 50 day moving average price of $27.66 and a two-hundred day moving average price of $27.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.34 and a current ratio of 1.63. The stock has a market capitalization of $2.88 billion, a P/E ratio of -2,930.37 and a beta of 1.21. ATS Corporation has a one year low of $20.90 and a one year high of $32.73.

ATS (NYSE:ATS) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 8.82% and a negative net margin of 0.08%.The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts expect that ATS Corporation will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on ATS shares. Wall Street Zen raised ATS from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of ATS from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of ATS in a research note on Wednesday, January 21st. Scotiabank upgraded shares of ATS from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, November 5th. Finally, TD Securities reaffirmed a “buy” rating on shares of ATS in a report on Monday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ATS has an average rating of “Hold” and an average price target of $35.00.

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.