ATS (NYSE:ATS) Hits New 1-Year Low – Should You Sell?

ATS Corporation (NYSE:ATS) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $17.72 and last traded at $17.7150, with a volume of 29079 shares changing hands. The stock had previously closed at $18.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ATS shares. Zacks Research cut ATS from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Weiss Ratings downgraded shares of ATS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. TD Securities lowered shares of ATS from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen cut shares of ATS from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Desjardins initiated coverage on shares of ATS in a research report on Tuesday, June 16th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ATS has a consensus rating of “Hold” and an average target price of $42.50.

ATS Stock Down 2.3%

The company has a 50-day moving average of $20.29 and a 200-day moving average of $26.49. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 52.41 and a beta of 1.18.

ATS (NYSE:ATS) last issued its quarterly earnings results 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 business had revenue of $488.38 million for the quarter, compared to analysts’ expectations of $509.71 million. ATS had a return on equity of 8.96% and a net margin of 1.60%.ATS’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities analysts predict that ATS Corporation will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in shares of ATS in the second quarter worth $66,908,000. Hill City Capital LP purchased a new stake in shares of ATS in the second quarter valued at approximately $47,482,884. Janus Henderson Group PLC raised its position in 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 acquiring an additional 1,435,375 shares during the period. Alberta Investment Management Corp acquired a new position in shares of ATS during the 2nd quarter worth about $33,904,000. Finally, Bank of America Corp DE purchased a new position in shares of ATS in the second quarter valued at approximately $32,296,000. 75.84% of the stock is owned by institutional investors and hedge funds.

About ATS

ATS Corporation, also known as ATS Automation Tooling Systems, is an industrial automation company that designs, builds and services automated manufacturing and assembly systems. Its solutions combine robotics, precision machinery, controls, software, machine vision and other technologies to help manufacturers improve production efficiency, quality and repeatability.

The company provides custom automation equipment, standardized automation products, production systems, packaging and material-handling solutions, and related aftermarket services.