ATS (NYSE:ATS) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

ATS (NYSE:ATS) announced its quarterly earnings data on Wednesday. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02), reports. The company had revenue of $548.46 million during the quarter, compared to analyst estimates of $527.52 million. ATS had a net margin of 5.48% and a return on equity of 19.25%.

ATS Stock Performance

Shares of NYSE:ATS opened at $37.04 on Friday. ATS has a 52-week low of $30.90 and a 52-week high of $48.89. The firm has a market capitalization of $3.66 billion and a P/E ratio of 30.11. The company has a quick ratio of 1.31, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $39.62.

Institutional Investors Weigh In On ATS

Several hedge funds have recently modified their holdings of the company. Capital International Investors acquired a new position in ATS in the 2nd quarter valued at approximately $271,733,000. Capital World Investors acquired a new stake in shares of ATS in the second quarter valued at about $189,096,000. Clearbridge Investments LLC bought a new position in shares of ATS during the second quarter worth about $76,087,000. Mackenzie Financial Corp raised its position in shares of ATS by 38.1% during the third quarter. Mackenzie Financial Corp now owns 1,617,505 shares of the company’s stock worth $64,684,000 after acquiring an additional 446,568 shares during the last quarter. Finally, ACK Asset Management LLC lifted its stake in shares of ATS by 13.6% in the second quarter. ACK Asset Management LLC now owns 1,221,341 shares of the company’s stock worth $56,292,000 after acquiring an additional 146,341 shares during the period. Institutional investors and hedge funds own 75.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ATS shares. TheStreet cut ATS from a “b-” rating to a “c+” rating in a research note on Wednesday, November 1st. Royal Bank of Canada reduced their price objective on ATS from $69.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday.

ATS Company Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.