Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume – Should You Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw unusually-strong trading volume on Tuesday . Approximately 906,415 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 967,949 shares.The stock last traded at $22.28 and had previously closed at $22.24.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ATSG shares. StockNews.com started coverage on Air Transport Services Group in a research note on Monday. They issued a “hold” rating on the stock. Truist Financial boosted their target price on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Loop Capital restated a “hold” rating and issued a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Price Performance

The business’s fifty day simple moving average is $22.08 and its 200-day simple moving average is $19.09. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market cap of $1.47 billion, a P/E ratio of -558.11 and a beta of 0.84.

Institutional Investors Weigh In On Air Transport Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ATSG. Independence Bank of Kentucky bought a new stake in Air Transport Services Group during the 4th quarter valued at $33,000. Sterling Capital Management LLC raised its holdings in Air Transport Services Group by 797.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 1,459 shares during the period. AlphaQuest LLC increased its holdings in shares of Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock worth $58,000 after purchasing an additional 1,246 shares during the period. Blue Trust Inc. increased its holdings in shares of Air Transport Services Group by 1,320.1% in the third quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock worth $79,000 after purchasing an additional 4,528 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Air Transport Services Group by 96.8% in the fourth quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock worth $82,000 after purchasing an additional 1,834 shares during the period. Institutional investors own 91.81% of the company’s stock.

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.