Air Transport Services Group (ATSG) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Air Transport Services Group (NASDAQ:ATSG) from a hold rating to a buy rating in a research report report published on Tuesday, January 9th. They currently have $27.00 price target on the transportation company’s stock.

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. “

Several other equities research analysts have also recently commented on the company. BidaskClub raised Air Transport Services Group from a hold rating to a buy rating in a research report on Tuesday, January 9th. ValuEngine cut Air Transport Services Group from a buy rating to a hold rating in a research report on Friday, December 1st. Stephens reaffirmed an overweight rating and set a $29.00 target price (up previously from $27.00) on shares of Air Transport Services Group in a research report on Tuesday, November 7th. Stifel Nicolaus reaffirmed a hold rating and set a $22.00 target price (up previously from $20.00) on shares of Air Transport Services Group in a research report on Tuesday, November 7th. Finally, Cowen set a $27.00 target price on Air Transport Services Group and gave the stock a buy rating in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Air Transport Services Group currently has a consensus rating of Buy and an average target price of $25.57.

Air Transport Services Group (NASDAQ:ATSG) opened at $24.09 on Tuesday. The firm has a market capitalization of $1,420.00, a PE ratio of -19.12 and a beta of 1.88. Air Transport Services Group has a 12 month low of $15.34 and a 12 month high of $27.67. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.87 and a current ratio of 0.97.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Monday, November 6th. The transportation company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The business had revenue of $254.10 million during the quarter, compared to analysts’ expectations of $256.13 million. Air Transport Services Group had a positive return on equity of 16.62% and a negative net margin of 7.77%. The firm’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. equities research analysts forecast that Air Transport Services Group will post 0.87 earnings per share for the current year.

In related news, Director Joseph Edward Roux sold 10,012 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $23.61, for a total value of $236,383.32. Following the completion of the transaction, the director now directly owns 27,862 shares in the company, valued at $657,821.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Quint O. Turner sold 7,500 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $24.60, for a total value of $184,500.00. Following the completion of the transaction, the chief financial officer now owns 247,573 shares of the company’s stock, valued at $6,090,295.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,512 shares of company stock valued at $776,023. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ATSG. Rice Hall James & Associates LLC grew its position in Air Transport Services Group by 41.1% in the fourth quarter. Rice Hall James & Associates LLC now owns 811,725 shares of the transportation company’s stock valued at $18,783,000 after acquiring an additional 236,637 shares during the period. Castleark Management LLC bought a new stake in Air Transport Services Group in the second quarter valued at $8,242,000. State Street Corp grew its position in Air Transport Services Group by 7.1% in the second quarter. State Street Corp now owns 1,000,779 shares of the transportation company’s stock valued at $21,794,000 after acquiring an additional 66,711 shares during the period. Nicholas Investment Partners LP bought a new stake in Air Transport Services Group in the second quarter valued at $3,836,000. Finally, Goldman Sachs Group Inc. grew its position in Air Transport Services Group by 189.3% in the second quarter. Goldman Sachs Group Inc. now owns 89,127 shares of the transportation company’s stock valued at $1,941,000 after acquiring an additional 58,317 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.

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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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