Clearbridge Investments LLC Trims Stock Holdings in ATS Co. (NYSE:ATS)

Clearbridge Investments LLC lessened its stake in shares of ATS Co. (NYSE:ATS) by 20.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,264,654 shares of the company’s stock after selling 319,596 shares during the quarter. Clearbridge Investments LLC owned 1.29% of ATS worth $40,861,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1832 Asset Management L.P. increased its holdings in ATS by 90.1% in the 1st quarter. 1832 Asset Management L.P. now owns 439,400 shares of the company’s stock valued at $14,817,000 after purchasing an additional 208,200 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of ATS by 10.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 517,284 shares of the company’s stock valued at $22,331,000 after buying an additional 47,896 shares during the period. Capital International Sarl lifted its stake in ATS by 40.7% during the 1st quarter. Capital International Sarl now owns 149,785 shares of the company’s stock worth $5,044,000 after acquiring an additional 43,336 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in ATS by 18.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,602 shares of the company’s stock valued at $10,907,000 after acquiring an additional 50,000 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. grew its position in ATS by 67.0% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 138,625 shares of the company’s stock valued at $4,669,000 after acquiring an additional 55,600 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ATS from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. The Goldman Sachs Group reduced their target price on shares of ATS from $34.00 to $30.00 and set a “sell” rating on the stock in a report on Tuesday, August 13th. One 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.com, the company currently has a consensus rating of “Hold” and an average target price of $42.00.

ATS Stock Performance

Shares of ATS opened at $29.57 on Friday. ATS Co. has a 1 year low of $24.82 and a 1 year high of $44.70. The stock has a market capitalization of $2.90 billion, a PE ratio of 20.25 and a beta of 1.17. 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 simple moving average of $27.62 and a 200-day simple moving average of $30.92.

ATS (NYSE:ATS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). ATS had a return on equity of 14.63% and a net margin of 6.11%. The firm had revenue of $507.43 million during the quarter, compared to analysts’ expectations of $502.41 million. On average, analysts predict 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.