ATS (NYSE:ATS) Shares Gap Up – Should You Buy?

ATS Co. (NYSE:ATS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $25.55, but opened at $29.90. ATS shares last traded at $31.21, with a volume of 63,461 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upgraded shares of ATS to a “hold” rating in a research note on Tuesday, April 29th.

ATS Stock Performance

The stock has a 50 day simple moving average of $25.51 and a 200 day simple moving average of $27.83. The company has a quick ratio of 1.58, a current ratio of 1.92 and a debt-to-equity ratio of 0.97. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 46.62 and a beta of 1.06.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. abrdn plc increased its holdings in shares of ATS by 38.5% in the 4th quarter. abrdn plc now owns 13,267 shares of the company’s stock valued at $401,000 after acquiring an additional 3,685 shares during the last quarter. Heathbridge Capital Management Ltd. acquired a new position in ATS in the fourth quarter worth $10,024,000. Principal Financial Group Inc. increased its stake in ATS by 1.1% during the fourth quarter. Principal Financial Group Inc. now owns 668,140 shares of the company’s stock valued at $20,367,000 after purchasing an additional 7,100 shares during the last quarter. Alberta Investment Management Corp raised its holdings in shares of ATS by 15.9% during the fourth quarter. Alberta Investment Management Corp now owns 1,086,700 shares of the company’s stock worth $33,125,000 after purchasing an additional 148,700 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ATS by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 198,402 shares of the company’s stock worth $6,048,000 after buying an additional 5,525 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

About ATS

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.