Air Transport Services Group (NASDAQ:ATSG) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) saw an uptick in trading volume on Friday . 1,036,664 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 852,885 shares.The stock last traded at $22.28 and had previously closed at $22.27.

Analysts Set New Price Targets

Several research firms have commented on ATSG. Loop Capital reissued a “hold” rating and set a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Truist Financial increased their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, StockNews.com assumed coverage on shares of Air Transport Services Group in a report on Friday, January 24th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Air Transport Services Group has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Trading Down 0.2 %

The company’s fifty day moving average price is $22.03 and its 200-day moving average price is $18.50. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -555.74 and a beta of 0.85. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly 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 positive return on equity of 3.12% and a negative net margin of 0.12%. The company had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. During the same period in the prior year, the business posted $0.32 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. On average, research analysts expect that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ATSG. Independence Bank of Kentucky purchased a new stake in shares of Air Transport Services Group in the 4th quarter valued at $33,000. Blue Trust Inc. raised its stake in shares of Air Transport Services Group by 1,320.1% during the 3rd quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after buying an additional 4,528 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Air Transport Services Group by 106.0% in the 3rd 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 during the period. Hsbc Holdings PLC purchased a new stake in shares of Air Transport Services Group in the second quarter worth about $156,000. Finally, Cetera Trust Company N.A grew its holdings in 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 acquiring an additional 1,355 shares during the period. 91.81% of the stock is owned by institutional investors and hedge funds.

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.