Air Transport Services Group (NASDAQ:ATSG) Lifted to “Buy” at Zacks Investment Research

Air Transport Services Group (NASDAQ:ATSG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm presently has a $26.00 target price on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.97% from the company’s current price.

According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “

A number of other brokerages also recently issued reports on ATSG. TheStreet downgraded Air Transport Services Group from a “b-” rating to a “c” rating in a research report on Monday, August 5th. ValuEngine downgraded Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, BidaskClub upgraded Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $28.60.

ATSG stock traded up $0.53 during mid-day trading on Friday, reaching $23.43. 605,600 shares of the company traded hands, compared to its average volume of 366,416. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.92 and a quick ratio of 0.78. The company has a market capitalization of $1.30 billion, a P/E ratio of 18.74 and a beta of 0.93. Air Transport Services Group has a 52-week low of $17.06 and a 52-week high of $25.82. The company has a fifty day moving average price of $20.76 and a 200-day moving average price of $21.99.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Wednesday, November 6th. The transportation company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. The business had revenue of $366.07 million during the quarter, compared to analyst estimates of $344.72 million. Air Transport Services Group had a return on equity of 21.56% and a net margin of 2.13%. The company’s quarterly revenue was up 78.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, analysts forecast that Air Transport Services Group will post 1.3 EPS for the current year.

In related news, CFO Quint O. Turner sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $23.29, for a total value of $209,610.00. Following the completion of the sale, the chief financial officer now owns 233,053 shares in the company, valued at approximately $5,427,804.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider W Joseph Payne sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $23.01, for a total value of $98,943.00. Following the completion of the sale, the insider now owns 148,381 shares of the company’s stock, valued at approximately $3,414,246.81. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. lifted its position in Air Transport Services Group by 294.1% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,608 shares of the transportation company’s stock worth $39,000 after buying an additional 1,200 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Air Transport Services Group in the 2nd quarter worth approximately $56,000. Tower Research Capital LLC TRC lifted its position in Air Transport Services Group by 1,773.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the transportation company’s stock worth $68,000 after buying an additional 3,068 shares during the last quarter. Aperio Group LLC bought a new stake in Air Transport Services Group in the 2nd quarter worth approximately $134,000. Finally, US Bancorp DE lifted its position in Air Transport Services Group by 47.6% in the 2nd quarter. US Bancorp DE now owns 6,188 shares of the transportation company’s stock worth $151,000 after buying an additional 1,997 shares during the last quarter. Institutional investors own 87.14% of the company’s stock.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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