Air Transport Services Group (NASDAQ:ATSG) Reaches New 1-Year High – Should You Buy?

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) hit a new 52-week high on Monday . The company traded as high as $22.04 and last traded at $22.04, with a volume of 510753 shares traded. The stock had previously closed at $17.40.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial upped their target price on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Stifel Nicolaus raised their price objective on shares of Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.25.

Air Transport Services Group Price Performance

The stock has a market cap of $1.45 billion, a P/E ratio of 87.72 and a beta of 0.81. The business has a 50-day simple moving average of $15.89 and a 200 day simple moving average of $14.72. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Air Transport Services Group had a net margin of 0.90% and a return on equity of 4.24%. The firm had revenue of $488.41 million for the quarter, compared to the consensus estimate of $513.67 million. During the same quarter in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, analysts forecast that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pullen Investment Management LLC grew its holdings in Air Transport Services Group by 3.6% in the second quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company’s stock worth $254,000 after purchasing an additional 640 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Air Transport Services Group by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock worth $386,000 after purchasing an additional 733 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Air Transport Services Group by 3.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company’s stock worth $550,000 after purchasing an additional 1,158 shares in the last quarter. Cetera Trust Company N.A grew its position in Air Transport Services Group by 14.2% in the 3rd quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock valued at $177,000 after purchasing an additional 1,355 shares during the period. Finally, Gladius Capital Management LP bought a new stake in Air Transport Services Group during the 2nd quarter valued at $34,000. 91.81% of the stock is owned by institutional investors and hedge funds.

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.