Air Transport Services Group, Inc. (NASDAQ:ATSG) Short Interest Down 14.0% in December

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 2,210,000 shares, a decline of 14.0% from the November 30th total of 2,570,000 shares. Currently, 4.3% of the company’s stock are short sold. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is currently 1.9 days.

Air Transport Services Group Stock Down 0.1 %

Shares of Air Transport Services Group stock traded down $0.03 during trading on Friday, reaching $21.92. The company had a trading volume of 1,225,582 shares, compared to its average volume of 710,712. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. Air Transport Services Group has a fifty-two week low of $11.62 and a fifty-two week high of $22.33. The firm’s fifty day moving average is $20.95 and its 200-day moving average is $17.08. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -547.86 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $471.00 million during the quarter, compared to the consensus estimate of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, analysts anticipate that Air Transport Services Group will post 0.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com began coverage on Air Transport Services Group in a report on Monday, December 23rd. They issued a “hold” rating for the company. Loop Capital reiterated a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Finally, Truist Financial raised their target price 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.60.

Institutional Investors Weigh In On Air Transport Services Group

Several institutional investors and hedge funds have recently made changes to their positions in ATSG. Meeder Asset Management Inc. bought a new stake in Air Transport Services Group during the second quarter valued at $45,000. Canada Pension Plan Investment Board bought a new stake in shares of Air Transport Services Group during the 2nd quarter valued at about $58,000. Blue Trust Inc. raised its stake in Air Transport Services Group by 1,320.1% during the third quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock worth $79,000 after acquiring an additional 4,528 shares during the period. Hsbc Holdings PLC bought a new position in Air Transport Services Group in the second quarter worth about $156,000. Finally, Cetera Trust Company N.A lifted its holdings in Air Transport Services Group by 14.2% in 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 last quarter. 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.