JPMorgan Chase & Co. Boosts ATS (NYSE:ATS) Price Target to $35.00

ATS (NYSE:ATS) had its price target boosted by JPMorgan Chase & Co. from $33.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.81% from the stock’s previous close.

Several other research firms have also issued reports on ATS. Zacks Research upgraded ATS from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of ATS in a research report on Wednesday, October 8th. Finally, Scotiabank upgraded shares of ATS from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.00.

ATS Trading Down 0.1%

Shares of NYSE:ATS traded down $0.04 during trading on Friday, hitting $30.49. 1,872 shares of the company’s stock were exchanged, compared to its average volume of 92,080. The firm has a 50-day moving average price of $27.17 and a two-hundred day moving average price of $27.90. ATS has a 1-year low of $20.90 and a 1-year high of $32.73. The firm has a market cap of $2.99 billion, a P/E ratio of -3,049.95 and a beta of 1.21. 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 announced its quarterly earnings results 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. ATS had a negative net margin of 0.08% and a positive return on equity of 8.82%. The business had revenue of $524.03 million for the quarter, compared to the consensus estimate of $721.51 million. During the same period last year, the company posted $0.25 EPS. ATS’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts predict that ATS will post 1.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATS. Connor Clark & Lunn Investment Management Ltd. lifted its position in ATS by 19.9% during 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 purchasing an additional 392,874 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of ATS in the 2nd quarter valued at about $10,146,000. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of ATS by 25.3% during the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 792,305 shares of the company’s stock valued at $25,285,000 after purchasing an additional 159,814 shares during the period. Mackenzie Financial Corp grew its holdings in ATS by 17.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,410,833 shares of the company’s stock worth $45,023,000 after acquiring an additional 210,570 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in ATS by 28.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,434,005 shares of the company’s stock valued at $205,330,000 after purchasing an additional 1,416,009 shares during the last quarter. 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.