StockNews.com Upgrades Air Transport Services Group (NASDAQ:ATSG) to Hold

Air Transport Services Group (NASDAQ:ATSG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

A number of other brokerages also recently commented on ATSG. Truist Financial reduced their price objective on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Susquehanna lowered their price target on shares of Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

Air Transport Services Group Price Performance

ATSG traded up $1.46 on Tuesday, hitting $14.71. 1,312,754 shares of the company’s stock were exchanged, compared to its average volume of 619,153. The firm has a 50-day moving average price of $12.86 and a 200-day moving average price of $15.01. The stock has a market cap of $966.15 million, a price-to-earnings ratio of 19.61 and a beta of 0.85. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. Air Transport Services Group has a fifty-two week low of $11.62 and a fifty-two week high of $24.96.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings results on Monday, May 6th. The transportation company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The firm had revenue of $485.50 million for the quarter, compared to analyst estimates of $479.77 million. During the same period in the previous year, the business posted $0.36 earnings per share. Air Transport Services Group’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Air Transport Services Group will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Air Transport Services Group

Several large investors have recently modified their holdings of ATSG. CWM LLC raised its holdings in Air Transport Services Group by 53.9% in the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after buying an additional 767 shares during the period. New York State Common Retirement Fund raised its stake in shares of Air Transport Services Group by 2.3% in the 4th quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company’s stock valued at $767,000 after acquiring an additional 960 shares during the period. Strs Ohio lifted its holdings in shares of Air Transport Services Group by 10.5% in the 3rd quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock worth $262,000 after acquiring an additional 1,200 shares during the last quarter. Jessup Wealth Management Inc boosted its position in shares of Air Transport Services Group by 6.1% during the 1st quarter. Jessup Wealth Management Inc now owns 21,791 shares of the transportation company’s stock worth $300,000 after purchasing an additional 1,254 shares during the period. Finally, Barclays PLC increased its holdings in Air Transport Services Group by 9.2% in the 3rd quarter. Barclays PLC now owns 16,796 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

About Air Transport Services Group

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.