ATS (NYSE:ATS) Sets New 52-Week High – Here’s Why

ATS Corporation (NYSE:ATS) shares hit a new 52-week high during trading on Thursday . The company traded as high as $33.53 and last traded at $33.2640, with a volume of 121975 shares trading hands. The stock had previously closed at $32.79.

Wall Street Analyst Weigh In

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

ATS Price Performance

The company has a 50 day moving average of $30.72 and a two-hundred day moving average of $28.66. The firm has a market cap of $3.26 billion, a P/E ratio of 221.77 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.82.

ATS (NYSE:ATS) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. ATS had a return on equity of 9.67% and a net margin of 0.77%.The business had revenue of $553.81 million during the quarter, compared to analyst estimates of $722.96 million. During the same quarter last year, the company posted $0.32 EPS. ATS’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts expect that ATS Corporation will post 1.27 EPS for the current year.

Hedge Funds Weigh In On ATS

A number of hedge funds and other institutional investors have recently modified their holdings of ATS. Smartleaf Asset Management LLC acquired a new position in shares of ATS in the 4th quarter valued at $29,000. Quarry LP acquired a new position in shares of ATS in the 3rd quarter valued at $32,000. Raymond James Financial Inc. acquired a new position in shares of ATS in the 2nd quarter valued at $43,000. State of Wyoming acquired a new position in shares of ATS in the 3rd quarter valued at $112,000. Finally, Barclays PLC boosted its position in shares of ATS by 16.8% in the 4th quarter. Barclays PLC now owns 5,264 shares of the company’s stock valued at $145,000 after purchasing an additional 756 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

About ATS

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.