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

StockNews.com assumed coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a report issued on Thursday morning. The brokerage issued a hold rating on the transportation company’s stock.

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

Air Transport Services Group Price Performance

Shares of NASDAQ:ATSG opened at $21.96 on Thursday. Air Transport Services Group has a 52-week low of $11.62 and a 52-week high of $22.27. The stock has a market cap of $1.44 billion, a P/E ratio of -548.86 and a beta of 0.81. The business has a fifty day moving average of $17.77 and a two-hundred day moving average of $15.66. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 EPS. On average, research analysts expect that Air Transport Services Group will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds have recently added to or reduced their stakes in the stock. Gladius Capital Management LP acquired a new position in shares of Air Transport Services Group in the 2nd quarter valued at $34,000. Meeder Asset Management Inc. purchased a new stake in Air Transport Services Group in the second quarter valued at $45,000. CWM LLC lifted its position in Air Transport Services Group by 144.4% in the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 2,480 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Air Transport Services Group in the second quarter valued at $58,000. Finally, Innealta Capital LLC purchased a new position in shares of Air Transport Services Group during the second quarter worth about $73,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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.