Front Street Capital Management Inc. Boosts Stock Position in ATS Co. (NYSE:ATS)

Front Street Capital Management Inc. raised its stake in shares of ATS Co. (NYSE:ATS) by 73.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,750 shares of the company’s stock after acquiring an additional 57,875 shares during the period. ATS makes up 0.8% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Front Street Capital Management Inc. owned 0.14% of ATS worth $4,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of ATS by 91.5% during the 2nd quarter. Van ECK Associates Corp now owns 3,294 shares of the company’s stock worth $106,000 after buying an additional 1,574 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of ATS by 37.7% during the 1st quarter. Bessemer Group Inc. now owns 4,164 shares of the company’s stock worth $140,000 after acquiring an additional 1,140 shares during the period. Steph & Co. raised its holdings in ATS by 133.6% in the first quarter. Steph & Co. now owns 6,215 shares of the company’s stock valued at $210,000 after buying an additional 3,554 shares during the period. Hantz Financial Services Inc. purchased a new position in ATS in the second quarter valued at approximately $286,000. Finally, Dynasty Wealth Management LLC purchased a new position in ATS in the first quarter valued at approximately $337,000. 75.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATS. The Goldman Sachs Group lowered their price objective 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. JPMorgan Chase & Co. decreased their price target on shares of ATS from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.00.

ATS Price Performance

Shares of NYSE ATS opened at $28.81 on Tuesday. ATS Co. has a fifty-two week low of $24.82 and a fifty-two week high of $44.70. The firm’s 50-day simple moving average is $28.07 and its 200 day simple moving average is $31.25. The company has a quick ratio of 1.51, a current ratio of 1.79 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.82 billion, a P/E ratio of 19.73 and a beta of 1.17.

ATS (NYSE:ATS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share 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 return on equity of 14.63% and a net margin of 6.11%. Equities analysts expect that ATS Co. will post 1.45 EPS for the current year.

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.