Air Transport Services Group (NASDAQ:ATSG) Shares Gap Up Following Strong Earnings

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $13.26, but opened at $14.79. Air Transport Services Group shares last traded at $14.73, with a volume of 32,918 shares traded.

The transportation company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. Air Transport Services Group had a return on equity of 6.61% and a net margin of 2.37%. The company had revenue of $488.41 million during the quarter, compared to the consensus estimate of $513.67 million. During the same quarter last year, the business posted $0.57 earnings per share. Air Transport Services Group’s revenue was down 7.7% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ATSG shares. Truist Financial decreased their price target on shares of Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Susquehanna lifted their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. TD Cowen boosted their price target on Air Transport Services Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, StockNews.com upgraded Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.83.

Hedge Funds Weigh In On Air Transport Services Group

Large investors have recently bought and sold shares of the stock. Broad Bay Capital Management LP acquired a new stake in shares of Air Transport Services Group during the 4th quarter worth $8,831,000. Dimensional Fund Advisors LP raised its holdings in shares of Air Transport Services Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,013,004 shares of the transportation company’s stock worth $70,669,000 after purchasing an additional 175,076 shares during the period. PAX Financial Group LLC acquired a new position in shares of Air Transport Services Group in the 1st quarter valued at about $668,000. Thompson Siegel & Walmsley LLC grew its holdings in shares of Air Transport Services Group by 23.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,074,016 shares of the transportation company’s stock worth $18,913,000 after purchasing an additional 200,770 shares during the period. Finally, IPG Investment Advisors LLC increased its position in Air Transport Services Group by 159.7% during the 4th quarter. IPG Investment Advisors LLC now owns 703,477 shares of the transportation company’s stock worth $12,388,000 after purchasing an additional 432,595 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Price Performance

The stock has a market cap of $1.00 billion, a PE ratio of 23.24 and a beta of 0.84. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average is $14.05 and its 200 day moving average is $13.80.

Air Transport Services Group Company Profile

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.