Air Transport Services Group (NASDAQ:ATSG) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the transportation company’s stock.

A number of other equities analysts also recently issued reports on ATSG. Loop Capital reiterated a “hold” rating and set a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Stifel Nicolaus raised their price target on Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial upped their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Price Performance

Shares of NASDAQ:ATSG traded up $0.06 during trading on Wednesday, reaching $22.07. 911,826 shares of the company traded hands, compared to its average volume of 634,119. Air Transport Services Group has a 52 week low of $11.62 and a 52 week high of $22.27. The firm has a market capitalization of $1.45 billion, a PE ratio of -551.61 and a beta of 0.81. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $16.80 and its two-hundred day moving average is $15.22.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The business had revenue of $471.00 million during the quarter, compared to the consensus estimate of $507.46 million. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Air Transport Services Group will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pullen Investment Management LLC lifted its stake in Air Transport Services Group by 3.6% during the second quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company’s stock worth $254,000 after purchasing an additional 640 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Air Transport Services Group by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock worth $386,000 after buying an additional 733 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Air Transport Services Group by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company’s stock worth $550,000 after buying an additional 1,158 shares in the last quarter. Cetera Trust Company N.A grew its position in Air Transport Services Group by 14.2% during the third quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 1,355 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Air Transport Services Group in the 2nd quarter worth approximately $34,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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.