TD Asset Management Inc Decreases Stake in ATS Corporation $ATS

TD Asset Management Inc cut its stake in ATS Corporation (NYSE:ATS) by 7.6% in the third quarter, Holdings Channel reports. The firm owned 1,181,762 shares of the company’s stock after selling 97,117 shares during the period. TD Asset Management Inc’s holdings in ATS were worth $30,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Aviso Financial Inc. raised its holdings in shares of ATS by 0.9% in the second quarter. Aviso Financial Inc. now owns 50,653 shares of the company’s stock worth $1,615,000 after buying an additional 452 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in ATS by 0.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 269,994 shares of the company’s stock worth $7,062,000 after acquiring an additional 734 shares during the period. Franklin Resources Inc. lifted its position in ATS by 7.3% during the 2nd quarter. Franklin Resources Inc. now owns 17,106 shares of the company’s stock worth $546,000 after acquiring an additional 1,171 shares during the period. Raymond James Financial Inc. purchased a new stake in ATS during the 2nd quarter valued at about $43,000. Finally, Amundi raised its stake in shares of ATS by 5.4% in the first quarter. Amundi now owns 30,538 shares of the company’s stock worth $770,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ATS. Weiss Ratings reiterated a “sell (d)” rating on shares of ATS in a report on Wednesday, January 21st. TD Securities reissued a “buy” rating on shares of ATS in a report on Monday, January 26th. Scotiabank reaffirmed an “outperform” rating on shares of ATS in a research report on Thursday, January 29th. Zacks Research upgraded ATS from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on ATS from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.00.

ATS Price Performance

Shares of ATS stock opened at $31.94 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of 212.96 and a beta of 1.21. ATS Corporation has a twelve month low of $20.90 and a twelve month high of $33.01. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $29.74 and a 200 day moving average price of $27.85.

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