Norges Bank Invests $29.73 Million in ATS Corporation $ATS

Norges Bank purchased a new stake in shares of ATS Corporation (NYSE:ATS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,079,090 shares of the company’s stock, valued at approximately $29,727,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi raised its holdings in ATS by 5.4% in the 1st quarter. Amundi now owns 30,538 shares of the company’s stock worth $770,000 after purchasing an additional 1,562 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in ATS by 79.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 434,044 shares of the company’s stock worth $10,821,000 after purchasing an additional 191,842 shares in the last quarter. Jane Street Group LLC raised its holdings in ATS by 29.7% in the 1st quarter. Jane Street Group LLC now owns 42,085 shares of the company’s stock worth $1,049,000 after purchasing an additional 9,636 shares in the last quarter. First Trust Advisors LP raised its holdings in ATS by 2.9% in the 2nd quarter. First Trust Advisors LP now owns 120,088 shares of the company’s stock worth $3,830,000 after purchasing an additional 3,382 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ATS in the 2nd quarter worth $43,000. 75.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ATS has been the subject of several research reports. Zacks Research lowered shares of ATS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Scotiabank reiterated an “outperform” rating on shares of ATS in a research note on Tuesday, April 28th. Royal Bank Of Canada decreased their price target on shares of ATS from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. Weiss Ratings upgraded shares of ATS from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of ATS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.50.

ATS Stock Up 0.4%

Shares of ATS stock opened at $27.41 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.36. The company has a 50-day moving average of $31.46 and a 200 day moving average of $29.89. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 52.72 and a beta of 1.20. ATS Corporation has a 1 year low of $23.84 and a 1 year high of $35.82.

ATS (NYSE:ATS) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). ATS had a net margin of 2.40% and a return on equity of 9.40%. The firm had revenue of $535.09 million for the quarter, compared to analysts’ expectations of $529.43 million. As a group, sell-side analysts anticipate that ATS Corporation will post 1.5 earnings per share for the current fiscal year.

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.