PenderFund Capital Management Ltd. Takes Position in ATS Corporation $ATS

PenderFund Capital Management Ltd. purchased a new position in ATS Corporation (NYSE:ATS) during the second quarter, Holdings Channel.com reports. The firm purchased 37,700 shares of the company’s stock, valued at approximately $1,087,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its stake in shares of ATS by 1.5% during the 1st quarter. Royal Bank of Canada now owns 7,761,838 shares of the company’s stock worth $218,884,000 after purchasing an additional 117,291 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of ATS by 4.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 7,168,112 shares of the company’s stock valued at $202,081,000 after buying an additional 279,327 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of ATS by 166.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company’s stock valued at $64,544,000 after buying an additional 1,435,375 shares in the last quarter. Sei Investments Co. increased its holdings in ATS by 70.0% in the first quarter. Sei Investments Co. now owns 167,820 shares of the company’s stock worth $4,733,000 after buying an additional 69,078 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in ATS by 22.3% in the fourth quarter. Royce & Associates LP now owns 164,500 shares of the company’s stock worth $4,532,000 after buying an additional 30,000 shares during the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ATS shares. Zacks Research cut shares of ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Wall Street Zen lowered shares of ATS from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Royal Bank Of Canada cut their price target on shares of ATS from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Weiss Ratings raised shares of ATS from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Finally, TD Securities cut shares of ATS from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.50.

ATS Price Performance

Shares of ATS stock opened at $19.37 on Friday. The firm has a fifty day simple moving average of $25.06 and a 200-day simple moving average of $28.87. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. ATS Corporation has a 1-year low of $19.05 and a 1-year high of $35.82. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 56.97 and a beta of 1.22.

ATS (NYSE:ATS) last posted its earnings results on Thursday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The firm had revenue of $488.38 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. On average, sell-side analysts expect that ATS Corporation will post 1.12 earnings per share for the current year.

ATS Company Profile

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.