ATS Automation Tooling Systems (ATA.TO) Restructuring Shows Evidence of Success: Does the Stock Still Have Upside?
SummaryIn this post, I’ll take a look at ATS Automation (ATA.TO or ATSAF.PK ), a Canadian company that primarily specializes in providing automated manufacturing systems to various sectors, including the fast-growing alternative energy industry. In addition, the company also owns PhotoWatt France, a provider of photovoltaic solar energy cells and modules and is a leader in the manufacture of UMGSi silicon, a lower grade of silicon that can be acquired more readily than polysilicon. ATS Automation has been in restructuring mode since September 2007, when a group of shareholders successfully ousted past management and installed a whole new leadership team. Recently, the company’s fourth quarter fiscal 2008 financial results demonstrated significant financial improvements and a strong outlook for fiscal 2009, prompting me to take a closer look at the company. Although the stock has appreciated dramatically from its low earlier this year, I still believe that ATS Automation (ATA.TO), has significant upside (100%) in the next one to three years.
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