ATS Co. (NYSE:ATS) Sees Large Increase in Short Interest

ATS Co. (NYSE:ATS) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 2,190,000 shares, an increase of 23.7% from the June 15th total of 1,770,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 125,000 shares, the days-to-cover ratio is currently 17.5 days.

Hedge Funds Weigh In On ATS

Several institutional investors have recently added to or reduced their stakes in ATS. Capital International Investors lifted its stake in shares of ATS by 18.9% in the 1st quarter. Capital International Investors now owns 8,336,811 shares of the company’s stock valued at $280,530,000 after purchasing an additional 1,325,247 shares during the last quarter. Norges Bank purchased a new position in shares of ATS during the 4th quarter worth about $40,685,000. EdgePoint Investment Group Inc. grew its holdings in ATS by 34.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,560,512 shares of the company’s stock valued at $119,863,000 after purchasing an additional 909,149 shares during the last quarter. Capital World Investors raised its position in ATS by 8.8% in the 4th quarter. Capital World Investors now owns 4,470,733 shares of the company’s stock worth $192,690,000 after purchasing an additional 360,719 shares during the period. Finally, Vanguard Group Inc. lifted its stake in ATS by 8.8% in the third quarter. Vanguard Group Inc. now owns 2,852,701 shares of the company’s stock worth $121,582,000 after purchasing an additional 229,765 shares during the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Analyst Ratings Changes

ATS has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of ATS in a research note on Tuesday, March 26th. They set a “sell” rating and a $34.00 target price on the stock. Scotiabank upgraded shares of ATS to a “hold” rating in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. cut their price target on ATS from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.67.

ATS Price Performance

ATS traded down $0.07 during trading on Friday, reaching $33.31. 73,630 shares of the company traded hands, compared to its average volume of 65,584. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.42 and a current ratio of 1.70. The firm has a fifty day simple moving average of $32.38 and a 200 day simple moving average of $35.89. ATS has a 12-month low of $29.78 and a 12-month high of $48.89. The company has a market cap of $3.26 billion, a P/E ratio of 22.82 and a beta of 1.16.

ATS (NYSE:ATS) last announced its quarterly earnings results on Thursday, May 16th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $587.12 million for the quarter, compared to analysts’ expectations of $534.08 million. ATS had a net margin of 6.39% and a return on equity of 15.97%. On average, equities analysts forecast that ATS will post 1.75 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.