ATS (NYSE:ATS) Shares Gap Up – Here’s Why

ATS Co. (NYSE:ATS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $30.99, but opened at $32.18. ATS shares last traded at $32.38, with a volume of 14,757 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ATS. The Goldman Sachs Group cut their target price on shares of ATS from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut their price objective on ATS from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th.

ATS Price Performance

The company has a market cap of $3.20 billion, a price-to-earnings ratio of 34.05 and a beta of 1.05. The company’s 50-day simple moving average is $29.99 and its 200-day simple moving average is $30.02. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.08 and a quick ratio of 1.71.

Hedge Funds Weigh In On ATS

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ATS by 4.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,457 shares of the company’s stock valued at $565,000 after purchasing an additional 804 shares in the last quarter. Van ECK Associates Corp raised its holdings in ATS by 28.4% in the third quarter. Van ECK Associates Corp now owns 4,230 shares of the company’s stock valued at $132,000 after acquiring an additional 936 shares in the last quarter. CIBC Asset Management Inc boosted its stake in ATS by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 325,449 shares of the company’s stock valued at $9,446,000 after acquiring an additional 1,269 shares during the last quarter. Geode Capital Management LLC grew its holdings in ATS by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 38,987 shares of the company’s stock worth $1,136,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its holdings in ATS by 1.7% during the 2nd quarter. Thornburg Investment Management Inc. now owns 181,408 shares of the company’s stock worth $5,861,000 after acquiring an additional 2,958 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

ATS Company Profile

ATS Corporation, together with its subsidiaries, provides automation solutions worldwide. The company is also involved in planning, designing, building, commissioning, and servicing automated manufacturing and assembly systems, including automation products and test solutions. In addition, it offers pre-automation services comprising discovery and analysis, concept development, simulation, and total cost of ownership modelling; post automation services, including training, process optimization, preventative maintenance, emergency and on-call support, spare parts, retooling, retrofits, and equipment relocation; and contract manufacturing services, as well as after sales and services.