Connor Clark & Lunn Investment Management Ltd. Acquires New Position in ATS Corporation $ATS

Connor Clark & Lunn Investment Management Ltd. bought a new position in ATS Corporation (NYSE:ATS – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,089,460 shares of the company’s stock, valued at approximately $31,371,000.

A number of other hedge funds have also bought and sold shares of ATS. Bank of Montreal Can increased its stake in ATS by 187.1% during the 4th quarter. Bank of Montreal Can now owns 3,022,693 shares of the company’s stock valued at $83,269,000 after purchasing an additional 1,970,040 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of ATS by 166.5% during the first quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company’s stock worth $64,544,000 after buying an additional 1,435,375 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of ATS during the second quarter valued at $33,904,000. Norges Bank purchased a new stake in shares of ATS during the fourth quarter valued at $29,727,000. Finally, Royal Bank of Canada increased its position in shares of ATS by 8.9% in the 4th quarter. Royal Bank of Canada now owns 7,644,547 shares of the company’s stock valued at $210,529,000 after acquiring an additional 623,369 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Price Performance

NYSE:ATS opened at $19.26 on Tuesday. The firm’s fifty day moving average is $25.57 and its two-hundred day moving average is $29.09. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 56.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63. ATS Corporation has a one year low of $19.05 and a one year high of $35.82.

ATS (NYSE:ATS – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company had revenue of $488.38 million for the quarter, compared to analysts’ expectations of $509.71 million. ATS had a net margin of 1.60% and a return on equity of 8.96%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. Research analysts expect that ATS Corporation will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ATS shares. Zacks Research lowered ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. TD Securities downgraded ATS from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. 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 report on Friday, May 29th. Wall Street Zen lowered ATS from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of ATS in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.50.

View Our Latest Stock Analysis on ATS

ATS Company 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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