Norges Bank Invests $29.73 Million in ATS Corporation $ATS

Norges Bank purchased a new stake in ATS Corporation (NYSE:ATS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,079,090 shares of the company’s stock, valued at approximately $29,727,000. Norges Bank owned about 1.10% of ATS as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of ATS by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 3,397,166 shares of the company’s stock worth $93,582,000 after purchasing an additional 55,731 shares in the last quarter. Bank of America Corp DE lifted its stake in ATS by 45.2% in the 3rd quarter. Bank of America Corp DE now owns 1,251,695 shares of the company’s stock valued at $32,794,000 after purchasing an additional 389,862 shares during the last quarter. Invesco Ltd. lifted its stake in ATS by 0.7% in the 3rd quarter. Invesco Ltd. now owns 1,196,732 shares of the company’s stock valued at $31,354,000 after purchasing an additional 8,505 shares during the last quarter. Legal & General Group Plc lifted its stake in ATS by 9.6% in the 4th quarter. Legal & General Group Plc now owns 542,023 shares of the company’s stock valued at $14,930,000 after purchasing an additional 47,414 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in ATS by 79.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company’s stock valued at $10,821,000 after purchasing an additional 191,842 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Price Performance

ATS opened at $27.41 on Wednesday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 52.72 and a beta of 1.20. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $31.46 and a 200-day moving average price of $29.89. ATS Corporation has a twelve month low of $23.84 and a twelve month high of $35.82.

ATS (NYSE:ATS) last posted its earnings results on Thursday, May 28th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $535.09 million during the quarter, compared to analysts’ expectations of $529.43 million. ATS had a return on equity of 9.40% and a net margin of 2.40%. Equities analysts expect that ATS Corporation will post 1.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ATS shares. Royal Bank Of Canada reduced their price target on shares of ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Zacks Research lowered shares of ATS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Scotiabank reaffirmed an “outperform” rating on shares of ATS in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of ATS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Finally, Weiss Ratings raised shares of ATS from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ATS has a consensus rating of “Hold” and a consensus target price of $42.50.

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.