ATS (NYSE:ATS) Shares Gap Up – Should You Buy?

ATS Co. (NYSE:ATS) shares gapped up before the market opened 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 changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of ATS from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price objective on ATS from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th.

ATS Stock Performance

The company has a market capitalization of $3.21 billion, a PE ratio of 32.28 and a beta of 1.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.71 and a current ratio of 2.08. The business’s 50-day moving average is $29.91 and its 200-day moving average is $30.05.

Institutional Trading of ATS

A number of hedge funds have recently made changes to their positions in ATS. The Manufacturers Life Insurance Company grew its stake in shares of ATS by 135.2% in the second quarter. The Manufacturers Life Insurance Company now owns 3,240,430 shares of the company’s stock worth $104,707,000 after acquiring an additional 1,862,912 shares during the last quarter. Vanguard Group Inc. boosted its stake in ATS by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,916,009 shares of the company’s stock worth $98,328,000 after purchasing an additional 32,123 shares in the last quarter. FMR LLC increased its stake in ATS by 9.5% during the 3rd quarter. FMR LLC now owns 1,639,373 shares of the company’s stock valued at $47,565,000 after purchasing an additional 142,671 shares in the last quarter. Bank of Montreal Can raised its holdings in ATS by 24.8% in the second quarter. Bank of Montreal Can now owns 718,649 shares of the company’s stock worth $24,228,000 after buying an additional 142,908 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of ATS by 3.4% during the third quarter. Principal Financial Group Inc. now owns 661,040 shares of the company’s stock valued at $19,201,000 after buying an additional 21,500 shares during the last quarter. 75.84% of the stock is owned by institutional investors.

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.