Air Transport Services Group (NASDAQ:ATSG) Hits New 1-Year High – Here’s What Happened

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.40 and last traded at $22.30, with a volume of 3656 shares changing hands. The stock had previously closed at $22.28.

Analyst Ratings Changes

A number of research firms have weighed in on ATSG. Truist Financial raised their price target on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. StockNews.com began coverage on shares of Air Transport Services Group in a research report on Saturday. They set a “hold” rating for the company. Finally, Loop Capital restated a “hold” rating and set a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Down 0.2 %

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 stock’s 50-day moving average price is $22.03 and its 200-day moving average price is $18.55. The company has a market cap of $1.46 billion, a P/E ratio of -555.36 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 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 for the quarter, compared to the consensus estimate of $507.46 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Air Transport Services Group

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Air Transport Services Group by 247.7% in the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock worth $1,180,000 after purchasing an additional 51,955 shares during the period. Empowered Funds LLC raised its position in shares of Air Transport Services Group by 11.1% during the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after buying an additional 29,104 shares in the last quarter. FMR LLC lifted its holdings in shares of Air Transport Services Group by 74.9% during the 3rd quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock worth $3,460,000 after acquiring an additional 91,521 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Air Transport Services Group in the 3rd quarter worth about $396,000. Finally, Phocas Financial Corp. boosted its stake in Air Transport Services Group by 49.4% in the third quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock worth $3,611,000 after buying an additional 73,752 shares in the last quarter. Hedge funds and other 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.