StockNews.com Begins Coverage on Air Transport Services Group (NASDAQ:ATSG)

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

Other equities analysts have also recently issued reports about the company. Loop Capital reaffirmed a “hold” rating and issued a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Truist Financial boosted their price objective 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Performance

ATSG opened at $22.34 on Tuesday. The company’s 50 day moving average is $22.14 and its 200 day moving average is $19.46. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -558.36 and a beta of 0.84. Air Transport Services Group has a 12-month low of $11.62 and a 12-month high of $22.38.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Independence Bank of Kentucky bought a new position in shares of Air Transport Services Group during the 4th quarter valued at about $33,000. Sterling Capital Management LLC boosted its position in shares of Air Transport Services Group by 797.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 1,459 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 1,246 shares in the last quarter. Covestor Ltd increased its position in Air Transport Services Group by 96.8% in the fourth quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock worth $82,000 after purchasing an additional 1,834 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Air Transport Services Group during the fourth quarter valued at $99,000. Institutional investors own 91.81% of the company’s stock.

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.