Zacks Investment Research upgraded shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a sell rating to a hold rating in a research report sent to investors on Monday, October 16th.
According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “
Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded Air Transport Services Group from a hold rating to a buy rating in a report on Saturday, July 8th. Cowen and Company set a $27.00 price objective on Air Transport Services Group and gave the company a buy rating in a report on Friday, October 13th. TheStreet cut Air Transport Services Group from a b+ rating to a c+ rating in a report on Monday, August 7th. Stifel Nicolaus reiterated a hold rating and set a $20.00 price objective on shares of Air Transport Services Group in a report on Friday, August 4th. Finally, Susquehanna Bancshares Inc started coverage on Air Transport Services Group in a report on Thursday, August 17th. They set a neutral rating and a $22.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $23.13.
Shares of Air Transport Services Group (NASDAQ ATSG) opened at 23.71 on Monday. The stock has a 50 day moving average of $24.18 and a 200 day moving average of $22.62. The stock’s market cap is $1.40 billion. Air Transport Services Group has a one year low of $12.94 and a one year high of $25.91.
Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, August 7th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Air Transport Services Group had a positive return on equity of 14.27% and a negative net margin of 4.42%. The company had revenue of $253.21 million during the quarter, compared to analyst estimates of $235.69 million. During the same period in the previous year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 43.4% compared to the same quarter last year. Equities analysts expect that Air Transport Services Group will post $0.86 EPS for the current fiscal year.
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In other news, insider W Joseph Payne sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.52, for a total transaction of $122,600.00. Following the sale, the insider now owns 185,452 shares in the company, valued at approximately $4,547,283.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard M. Baudouin sold 8,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $21.71, for a total value of $175,851.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,600 shares of company stock worth $479,951. Company insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Air Transport Services Group by 18.2% during the 1st quarter. Victory Capital Management Inc. now owns 6,887 shares of the transportation company’s stock worth $111,000 after acquiring an additional 1,058 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Air Transport Services Group by 21.4% during the 2nd quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock worth $150,000 after acquiring an additional 1,217 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Air Transport Services Group during the 2nd quarter worth approximately $168,000. First Mercantile Trust Co. acquired a new position in shares of Air Transport Services Group during the 2nd quarter worth approximately $169,000. Finally, SG Americas Securities LLC increased its holdings in shares of Air Transport Services Group by 17.1% during the 1st quarter. SG Americas Securities LLC now owns 11,196 shares of the transportation company’s stock worth $180,000 after acquiring an additional 1,632 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.
About Air Transport Services Group
Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.
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