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

StockNews.com started coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a research note released on Wednesday morning. The brokerage issued a hold rating on the transportation company’s stock.

A number of other research firms have also weighed in on ATSG. Loop Capital reiterated a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Truist Financial increased their price objective on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock 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. Based on data from MarketBeat, Air Transport Services Group has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Performance

NASDAQ ATSG opened at $22.29 on Wednesday. The company has a fifty day simple moving average of $22.17 and a two-hundred day simple moving average of $19.68. The stock has a market cap of $1.47 billion, a P/E ratio of -557.11 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. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $521.36 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. On average, analysts forecast that Air Transport Services Group will post 0.83 earnings per share for the current year.

Institutional Trading of Air Transport Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in Air Transport Services Group by 247.7% during the third quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock valued at $1,180,000 after buying an additional 51,955 shares during the period. Empowered Funds LLC grew its position in Air Transport Services Group by 11.1% during the third quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after buying an additional 29,104 shares during the period. FMR LLC grew its position in Air Transport Services Group by 74.9% during the third quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock valued at $3,460,000 after buying an additional 91,521 shares during the period. Systematic Financial Management LP acquired a new stake in Air Transport Services Group during the third quarter valued at $396,000. Finally, Phocas Financial Corp. grew its position in Air Transport Services Group by 49.4% during the third quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock valued at $3,611,000 after buying an additional 73,752 shares during the period. Institutional investors and hedge funds 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.