EdgePoint Investment Group Inc. Reduces Position in ATS Corporation $ATS

by · The Markets Daily

EdgePoint Investment Group Inc. decreased its holdings in ATS Corporation (NYSE:ATS – Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,381,294 shares of the company’s stock after selling 52,711 shares during the quarter. ATS makes up 1.2% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 20th biggest position. EdgePoint Investment Group Inc. owned 6.51% of ATS worth $166,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATS. Norges Bank acquired a new stake in ATS during the 2nd quarter valued at approximately $32,789,000. Alberta Investment Management Corp acquired a new position in shares of ATS in the 3rd quarter valued at approximately $11,061,000. Bank of America Corp DE boosted its stake in shares of ATS by 45.2% during the 3rd quarter. Bank of America Corp DE now owns 1,251,695 shares of the company’s stock valued at $32,794,000 after buying an additional 389,862 shares during the last quarter. Roubaix Capital LLC purchased a new position in shares of ATS during the 3rd quarter valued at approximately $5,857,000. Finally, Mackenzie Financial Corp grew its position in shares of ATS by 17.5% during the second quarter. Mackenzie Financial Corp now owns 1,410,833 shares of the company’s stock worth $45,023,000 after buying an additional 210,570 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

ATS Price Performance

Shares of NYSE ATS opened at $27.55 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 183.67 and a beta of 1.10. ATS Corporation has a twelve month low of $20.90 and a twelve month high of $33.01. The business has a 50 day simple moving average of $30.23 and a 200-day simple moving average of $28.06.

ATS (NYSE:ATS – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 9.67% and a net margin of 0.77%.The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. As a group, equities research analysts expect that ATS Corporation will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of ATS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. JPMorgan Chase & Co. increased their price objective on shares of ATS from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Zacks Research downgraded shares of ATS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. TD Securities restated a “buy” rating on shares of ATS in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of ATS in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.00.

View Our Latest Stock Report on ATS

ATS Profile

(Free Report)

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.

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