Legal & General Group Plc Increases Position in ATS Corporation $ATS

Legal & General Group Plc raised its holdings in shares of ATS Corporation (NYSE:ATS) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 542,023 shares of the company’s stock after purchasing an additional 47,414 shares during the period. Legal & General Group Plc owned 0.55% of ATS worth $14,930,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ATS. Principal Financial Group Inc. grew its stake in shares of ATS by 11.6% in the 3rd quarter. Principal Financial Group Inc. now owns 874,140 shares of the company’s stock worth $22,874,000 after buying an additional 90,700 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in ATS by 34.5% in the third quarter. Granite Investment Partners LLC now owns 205,847 shares of the company’s stock worth $5,393,000 after acquiring an additional 52,807 shares in the last quarter. Bastion Asset Management Inc. bought a new stake in ATS in the third quarter worth $1,904,000. Alberta Investment Management Corp purchased a new stake in shares of ATS in the third quarter worth $11,061,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of ATS in the third quarter worth $1,620,000. 75.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ATS Price Performance

Shares of ATS opened at $29.87 on Wednesday. The firm has a fifty day simple moving average of $31.67 and a two-hundred day simple moving average of $29.79. The firm has a market cap of $2.93 billion, a PE ratio of 57.44 and a beta of 1.20. The company has a current ratio of 1.64, a quick ratio of 1.36 and a debt-to-equity ratio of 0.78. ATS Corporation has a 1-year low of $23.84 and a 1-year high of $35.82.

ATS (NYSE:ATS) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm 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%. On average, equities analysts anticipate that ATS Corporation will post 1.5 EPS for the current year.

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.