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

StockNews.com began coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a research report report published on Friday. The firm issued a hold rating on the transportation company’s stock.

Several other research analysts have also recently commented on the stock. Truist Financial raised their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Loop Capital reaffirmed a “hold” rating and issued a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Stock Performance

ATSG opened at $22.27 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The company has a market capitalization of $1.46 billion, a PE ratio of -556.61 and a beta of 0.85. The business has a fifty day simple moving average of $22.00 and a 200 day simple moving average of $18.34. Air Transport Services Group has a 1 year low of $11.62 and a 1 year high of $22.33.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business had revenue of $471.00 million during the quarter, compared to the consensus estimate of $507.46 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. Research analysts expect that Air Transport Services Group will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Air Transport Services Group

A number of institutional investors have recently modified their holdings of ATSG. Independence Bank of Kentucky bought a new position in Air Transport Services Group in the fourth quarter valued at about $33,000. Canada Pension Plan Investment Board acquired a new position in Air Transport Services Group during the 2nd quarter worth approximately $58,000. Blue Trust Inc. lifted its stake in Air Transport Services Group by 1,320.1% in the 3rd quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after purchasing an additional 4,528 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Air Transport Services Group by 106.0% in the third quarter. Meeder Asset Management Inc. now owns 6,744 shares of the transportation company’s stock valued at $109,000 after buying an additional 3,471 shares in the last quarter. Finally, Cetera Trust Company N.A grew its stake in shares of Air Transport Services Group by 14.2% during the third quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock worth $177,000 after buying an additional 1,355 shares during the last quarter. 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.