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

Clearbridge Investments LLC decreased its stake in ATS Co. (NYSE:ATS) by 2.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,584,250 shares of the company’s stock after selling 34,175 shares during the period. Clearbridge Investments LLC’s holdings in ATS were worth $53,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATS. Capital International Investors grew its stake in shares of ATS by 18.0% during the 4th quarter. Capital International Investors now owns 7,011,564 shares of the company’s stock valued at $302,200,000 after acquiring an additional 1,068,310 shares during the period. Norges Bank bought a new position in shares of ATS in the fourth quarter worth approximately $40,685,000. Capital World Investors increased its stake in shares of ATS by 8.8% in the fourth 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Thornburg Investment Management Inc. bought a new stake in shares of ATS during the 4th quarter valued at $7,607,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.

ATS Price Performance

Shares of ATS stock traded down $1.49 on Wednesday, reaching $31.44. The company’s stock had a trading volume of 35,039 shares, compared to its average volume of 95,630. The stock’s fifty day simple moving average is $32.29 and its 200-day simple moving average is $35.36. ATS Co. has a 1 year low of $29.78 and a 1 year high of $46.99. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 22.55 and a beta of 1.16. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.75.

ATS (NYSE:ATS) last posted its earnings results on Thursday, May 16th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $587.12 million for the quarter, compared to the consensus estimate of $534.08 million. ATS had a net margin of 6.39% and a return on equity of 15.97%. Analysts forecast that ATS Co. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ATS shares. Scotiabank raised shares of ATS to a “hold” rating in a report on Friday, May 17th. The Goldman Sachs Group began coverage on shares of ATS in a report on Tuesday, March 26th. They set a “sell” rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of ATS from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ATS presently has an average rating of “Hold” and an average target price of $45.67.

ATS 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.