ATS (NYSE:ATS) Shares Gap Down on Disappointing Earnings

ATS Corporation (NYSE:ATS) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $35.27, but opened at $32.48. ATS shares last traded at $29.6120, with a volume of 152,203 shares.

The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). ATS had a return on equity of 9.67% and a net margin of 0.77%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of ATS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Zacks Research downgraded ATS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of ATS in a research report on Monday, April 20th. Finally, Scotiabank reissued an “outperform” rating on shares of ATS in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ATS has an average rating of “Hold” and an average target price of $35.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATS. Smartleaf Asset Management LLC purchased a new stake in shares of ATS in the fourth quarter worth about $29,000. Quarry LP purchased a new position in ATS during the 3rd quarter valued at approximately $32,000. State of Wyoming bought a new stake in ATS in the 1st quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in ATS in the 2nd quarter worth approximately $43,000. Finally, Barclays PLC raised its holdings in shares of ATS by 16.8% during the 4th quarter. Barclays PLC now owns 5,264 shares of the company’s stock worth $145,000 after acquiring an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

ATS Stock Down 17.3%

The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $2.86 billion, a P/E ratio of 193.55 and a beta of 1.26. The business has a 50-day moving average price of $31.72 and a 200 day moving average price of $29.73.

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.