Zacks Investment Research lowered shares of Atlas Air Worldwide (NASDAQ:AAWW) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “
AAWW has been the subject of a number of other research reports. Imperial Capital restated an outperform rating and issued a $65.00 target price (down previously from $79.00) on shares of Atlas Air Worldwide in a research report on Friday, May 3rd. They noted that the move was a valuation call. Cowen restated an outperform rating and issued a $68.00 target price on shares of Atlas Air Worldwide in a research report on Friday. Finally, BidaskClub upgraded Atlas Air Worldwide from a sell rating to a hold rating in a research report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Atlas Air Worldwide presently has an average rating of Hold and a consensus price target of $67.67.
NASDAQ:AAWW traded down $1.66 during mid-day trading on Friday, reaching $32.75. The stock had a trading volume of 961,256 shares, compared to its average volume of 174,966. The company has a 50 day moving average price of $42.27. The company has a market capitalization of $1.18 billion, a PE ratio of 4.50 and a beta of 2.04. Atlas Air Worldwide has a one year low of $32.13 and a one year high of $65.75. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.29.
Atlas Air Worldwide (NASDAQ:AAWW) last released its earnings results on Thursday, August 1st. The transportation company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.40). The firm had revenue of $663.92 million during the quarter, compared to the consensus estimate of $713.31 million. Atlas Air Worldwide had a return on equity of 10.76% and a net margin of 8.36%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 EPS. Equities research analysts anticipate that Atlas Air Worldwide will post 7.47 earnings per share for the current year.
In other Atlas Air Worldwide news, CFO Spencer Schwartz sold 6,500 shares of Atlas Air Worldwide stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $45.80, for a total value of $297,700.00. Following the transaction, the chief financial officer now directly owns 48,541 shares of the company’s stock, valued at approximately $2,223,177.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John K. Wulff purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $39.75 per share, for a total transaction of $198,750.00. Following the completion of the purchase, the director now directly owns 24,979 shares in the company, valued at $992,915.25. The disclosure for this purchase can be found here. Insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC increased its stake in Atlas Air Worldwide by 343.3% in the 1st quarter. Quantamental Technologies LLC now owns 4,003 shares of the transportation company’s stock worth $202,000 after purchasing an additional 3,100 shares during the period. 6 Meridian purchased a new position in Atlas Air Worldwide in the 1st quarter worth approximately $213,000. Investors Research Corp increased its stake in Atlas Air Worldwide by 4.8% in the 2nd quarter. Investors Research Corp now owns 5,450 shares of the transportation company’s stock worth $243,000 after purchasing an additional 250 shares during the period. Laurion Capital Management LP increased its stake in Atlas Air Worldwide by 7.3% in the 1st quarter. Laurion Capital Management LP now owns 5,655 shares of the transportation company’s stock worth $286,000 after purchasing an additional 384 shares during the period. Finally, Sciencast Management LP purchased a new position in Atlas Air Worldwide in the 1st quarter worth approximately $287,000.
About Atlas Air Worldwide
Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.
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