EdgePoint Investment Group Inc. Sells 19,873 Shares of ATS Co. (NYSE:ATS)

EdgePoint Investment Group Inc. decreased its position in shares of ATS Co. (NYSE:ATS) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,540,639 shares of the company’s stock after selling 19,873 shares during the quarter. ATS comprises approximately 1.0% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 27th largest position. EdgePoint Investment Group Inc. owned approximately 3.62% of ATS worth $114,589,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of 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 worth $565,000 after acquiring an additional 804 shares in the last quarter. Swiss National Bank boosted its stake in ATS by 0.5% during the first quarter. Swiss National Bank now owns 167,400 shares of the company’s stock worth $5,631,000 after acquiring an additional 900 shares in the last quarter. Bessemer Group Inc. increased its stake in ATS by 37.7% in the first quarter. Bessemer Group Inc. now owns 4,164 shares of the company’s stock valued at $140,000 after purchasing an additional 1,140 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of ATS by 91.5% during the second quarter. Van ECK Associates Corp now owns 3,294 shares of the company’s stock valued at $106,000 after purchasing an additional 1,574 shares during the period. Finally, Thornburg Investment Management Inc. boosted its position in shares of ATS by 1.0% during the 1st quarter. Thornburg Investment Management Inc. now owns 178,450 shares of the company’s stock worth $5,471,000 after purchasing an additional 1,821 shares in the last quarter. 75.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on ATS from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group reduced their price target on shares of ATS from $34.00 to $30.00 and set a “sell” rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, ATS has an average rating of “Hold” and a consensus price target of $42.00.

ATS Stock Performance

Shares of ATS opened at $28.57 on Thursday. ATS Co. has a 52 week low of $24.82 and a 52 week high of $44.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.51 and a current ratio of 1.79. The stock has a 50 day moving average price of $27.90 and a two-hundred day moving average price of $31.18. The firm has a market capitalization of $2.80 billion, a P/E ratio of 19.57 and a beta of 1.17.

ATS (NYSE:ATS) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $507.43 million during the quarter, compared to analysts’ expectations of $502.41 million. ATS had a net margin of 6.11% and a return on equity of 14.63%. Equities analysts forecast that ATS Co. will post 1.44 earnings per share for the current fiscal year.

About ATS

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.