ATS Corporation $ATS Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of ATS Corporation (NYSE:ATS) by 11.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 874,140 shares of the company’s stock after acquiring an additional 90,700 shares during the quarter. Principal Financial Group Inc.’s holdings in ATS were worth $22,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. EdgePoint Investment Group Inc. raised its position in shares of ATS by 28.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,434,005 shares of the company’s stock worth $205,330,000 after purchasing an additional 1,416,009 shares during the last quarter. Norges Bank acquired a new position in shares of ATS during the second quarter valued at approximately $32,789,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ATS by 19.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,369,028 shares of the company’s stock valued at $75,603,000 after acquiring an additional 392,874 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of ATS in the second quarter worth approximately $10,146,000. Finally, Mackenzie Financial Corp increased its position in shares of ATS by 17.5% during the second quarter. Mackenzie Financial Corp now owns 1,410,833 shares of the company’s stock worth $45,023,000 after purchasing an additional 210,570 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATS. Weiss Ratings reaffirmed a “sell (d)” rating on shares of ATS in a research note on Wednesday, January 21st. TD Securities restated a “buy” rating on shares of ATS in a research report on Monday, January 26th. Scotiabank reiterated an “outperform” rating on shares of ATS in a report on Thursday, January 29th. Wall Street Zen raised shares of ATS from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. upped their price target on ATS from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. Two equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.00.

ATS Price Performance

Shares of ATS stock opened at $29.85 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.65 and a quick ratio of 1.34. The company has a market capitalization of $2.93 billion, a PE ratio of 199.01 and a beta of 1.21. The firm’s 50-day moving average is $28.31 and its two-hundred day moving average is $27.72. ATS Corporation has a 12 month low of $20.90 and a 12 month high of $32.73.

ATS (NYSE:ATS) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $553.81 million during the quarter, compared to the consensus estimate of $722.96 million. ATS had a net margin of 0.77% and a return on equity of 9.67%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. Analysts predict that ATS Corporation will post 1.02 earnings per share for the current year.

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.