Air Transport Services Group (NASDAQ:ATSG) Sees Large Volume Increase – What’s Next?

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw strong trading volume on Tuesday . 1,763,023 shares traded hands during mid-day trading, an increase of 154% from the previous session’s volume of 692,996 shares.The stock last traded at $21.90 and had previously closed at $21.98.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATSG. Loop Capital restated a “hold” rating and issued a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. StockNews.com began coverage on Air Transport Services Group in a report on Sunday. They set a “hold” rating for the company. Finally, Truist Financial upped their target price on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Trading Up 0.1 %

The company has a market capitalization of $1.44 billion, a P/E ratio of -547.36 and a beta of 0.85. The company has a fifty day simple moving average of $20.14 and a two-hundred day simple moving average of $16.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

Air Transport Services Group (NASDAQ:ATSG) last released 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). The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The firm’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. On average, analysts forecast that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Air Transport Services Group

A number of hedge funds have recently bought and sold shares of ATSG. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Air Transport Services Group by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company’s stock worth $41,120,000 after purchasing an additional 380,958 shares during the period. American Century Companies Inc. lifted its position in shares of Air Transport Services Group by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company’s stock worth $25,855,000 after acquiring an additional 239,919 shares during the period. Anchor Capital Management Company LLC increased its position in shares of Air Transport Services Group by 26.4% during the second quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company’s stock valued at $15,534,000 after purchasing an additional 233,789 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Air Transport Services Group in the third quarter valued at $3,411,000. Finally, River Road Asset Management LLC lifted its position in Air Transport Services Group by 2.9% in the third quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company’s stock worth $116,085,000 after purchasing 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.