Air Transport Services Group (NASDAQ:ATSG) Sees Large Volume Increase – Here’s Why

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) saw strong trading volume on Tuesday . 906,415 shares were traded during trading, a decline of 6% from the previous session’s volume of 967,949 shares.The stock last traded at $22.28 and had previously closed at $22.24.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATSG. Loop Capital reiterated a “hold” rating and set a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. StockNews.com started coverage on Air Transport Services Group in a research note on Monday. They issued a “hold” rating on the stock. Finally, Truist Financial increased their target price on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Trading Down 0.1 %

The firm has a 50 day simple moving average of $22.10 and a 200 day simple moving average of $19.17. The firm has a market capitalization of $1.47 billion, a PE ratio of -557.36 and a beta of 0.84. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Hedge Funds Weigh In On Air Transport Services Group

Several hedge funds and other institutional investors have recently modified their holdings of ATSG. SG Americas Securities LLC bought a new position in shares of Air Transport Services Group during the 3rd quarter valued at $215,000. Creative Planning lifted its holdings in shares of Air Transport Services Group by 33.2% during the 3rd quarter. Creative Planning now owns 13,384 shares of the transportation company’s stock valued at $217,000 after buying an additional 3,338 shares during the period. Blue Trust Inc. lifted its holdings in shares of Air Transport Services Group by 1,320.1% during the 3rd quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after buying an additional 4,528 shares during the period. Pullen Investment Management LLC lifted its holdings in shares of Air Transport Services Group by 17.2% during the 3rd quarter. Pullen Investment Management LLC now owns 21,458 shares of the transportation company’s stock valued at $347,000 after buying an additional 3,155 shares during the period. Finally, River Road Asset Management LLC lifted its holdings in shares of Air Transport Services Group by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company’s stock valued at $116,085,000 after buying an additional 201,722 shares during the period. 91.81% of the stock is owned by 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.