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

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

A number of other research analysts also recently weighed in on the company. 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. Stifel Nicolaus lifted their price target on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial increased their price objective on 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Performance

NASDAQ:ATSG opened at $22.07 on Wednesday. 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 firm’s fifty day simple moving average is $16.80 and its 200 day simple moving average is $15.22. The stock has a market cap of $1.45 billion, a P/E ratio of -551.61 and a beta of 0.81. Air Transport Services Group has a twelve month low of $11.62 and a twelve month high of $22.27.

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

Institutional Trading of Air Transport Services Group

Hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in Air Transport Services Group during the 2nd quarter valued at approximately $34,000. Meeder Asset Management Inc. bought a new position in shares of Air Transport Services Group during the second quarter valued at $45,000. CWM LLC raised its position in shares of Air Transport Services Group by 144.4% in the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after purchasing an additional 2,480 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Air Transport Services Group in the 2nd quarter worth about $58,000. Finally, Innealta Capital LLC bought a new position in Air Transport Services Group in the 2nd quarter worth about $73,000. 91.81% of the stock is owned by 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.