Air Transport Services Group (NASDAQ:ATSG) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a report released on Wednesday morning. The brokerage issued a hold rating on the transportation company’s stock.

Other analysts have also issued research reports about the stock. Loop Capital reissued a “hold” rating and issued a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Truist Financial raised their price target on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report 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’s stock. According to data from MarketBeat, Air Transport Services Group presently has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Trading Up 0.0 %

NASDAQ:ATSG opened at $22.04 on Wednesday. The firm’s 50 day moving average is $21.70 and its 200 day moving average is $17.58. Air Transport Services Group has a 12 month low of $11.62 and a 12 month high of $22.33. The stock has a market capitalization of $1.45 billion, a PE ratio of -550.86 and a beta of 0.85. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results 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 negative net margin of 0.12% and a positive return on equity of 3.12%. The firm had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $507.46 million. During the same period in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. Sell-side analysts expect that Air Transport Services Group will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Air Transport Services Group by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock valued at $386,000 after buying an additional 733 shares in the last quarter. Cetera Trust Company N.A lifted its stake 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 purchasing an additional 1,355 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Air Transport Services Group by 13.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 21,815 shares of the transportation company’s stock worth $353,000 after purchasing an additional 2,518 shares in the last quarter. Pullen Investment Management LLC lifted its position in Air Transport Services Group by 17.2% in the 3rd quarter. Pullen Investment Management LLC now owns 21,458 shares of the transportation company’s stock worth $347,000 after buying an additional 3,155 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Air Transport Services Group during the second quarter valued at approximately $45,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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.