ATS (NYSE:ATS) Shares Gap Down on Disappointing Earnings

ATS Co. (NYSE:ATSGet Free Report) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $43.50, but opened at $41.20. ATS shares last traded at $41.27, with a volume of 5,720 shares trading hands.

The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $552.45 million during the quarter, compared to analysts’ expectations of $536.95 million. ATS had a net margin of 5.48% and a return on equity of 18.09%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ATS shares. JPMorgan Chase & Co. initiated coverage on shares of ATS in a report on Wednesday, December 20th. They issued a “neutral” rating and a $45.00 price objective on the stock. TheStreet upgraded shares of ATS from a “c+” rating to a “b” rating in a research report on Monday, December 11th. Finally, Royal Bank of Canada reduced their price objective on shares of ATS from $69.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th.

Read Our Latest Stock Report on ATS

Institutional Trading of ATS

Several institutional investors have recently made changes to their positions in ATS. Capital International Investors acquired a new stake in ATS in the second quarter valued at approximately $271,733,000. Capital World Investors acquired a new stake in ATS in the second quarter valued at approximately $189,096,000. Clearbridge Investments LLC acquired a new stake in ATS in the second quarter valued at approximately $76,087,000. Mackenzie Financial Corp acquired a new stake in ATS in the second quarter valued at approximately $53,867,000. Finally, Waratah Capital Advisors Ltd. acquired a new stake in shares of ATS in the second quarter worth $53,112,000. 75.13% of the stock is currently owned by institutional investors and hedge funds.

ATS Price Performance

The stock’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $41.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.73 and a quick ratio of 1.44. The firm has a market capitalization of $4.07 billion and a price-to-earnings ratio of 33.41.

About ATS

(Get Free Report)

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.

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