Front Street Capital Management Inc. Takes Position in ATS Corporation $ATS

Front Street Capital Management Inc. acquired a new position in ATS Corporation (NYSE:ATS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 124,973 shares of the company’s stock, valued at approximately $3,597,000. Front Street Capital Management Inc. owned approximately 0.13% of ATS at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC purchased a new position in shares of ATS during the fourth quarter valued at about $29,000. Quarry LP bought a new position in ATS in the third quarter worth about $32,000. State of Wyoming purchased a new stake in ATS in the second quarter worth about $33,000. Raymond James Financial Inc. purchased a new stake in ATS in the second quarter worth about $43,000. Finally, Barclays PLC boosted its position in ATS by 16.8% during the 4th quarter. Barclays PLC now owns 5,264 shares of the company’s stock valued at $145,000 after acquiring an additional 756 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ATS. Royal Bank Of Canada decreased their target price on ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Weiss Ratings upgraded ATS from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday. Scotiabank reaffirmed an “outperform” rating on shares of ATS in a research note on Tuesday, April 28th. Desjardins initiated coverage on ATS in a research note on Tuesday, June 16th. They issued a “buy” rating on the stock. Finally, Wall Street Zen downgraded ATS from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.50.

ATS Price Performance

Shares of NYSE ATS opened at $19.26 on Tuesday. The company has a 50 day simple moving average of $25.57 and a two-hundred day simple moving average of $29.09. ATS Corporation has a fifty-two week low of $19.05 and a fifty-two week high of $35.82. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 56.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.33 and a current ratio of 1.63.

ATS (NYSE:ATS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company had revenue of $488.38 million during the quarter, compared to the consensus estimate of $509.71 million. ATS had a return on equity of 8.96% and a net margin of 1.60%.The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. Analysts expect that ATS Corporation will post 1.12 EPS for the current fiscal 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.