Air Transport Services Group (NASDAQ:ATSG) Sees Unusually-High Trading Volume – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw an uptick in trading volume on Monday . 1,172,004 shares changed hands during mid-day trading, an increase of 83% from the previous session’s volume of 639,554 shares.The stock last traded at $21.97 and had previously closed at $22.02.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Loop Capital reaffirmed a “hold” rating and issued a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, StockNews.com assumed coverage on Air Transport Services Group in a research note on Wednesday, November 13th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Down 0.2 %

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -550.50 and a beta of 0.81. The business’s 50-day moving average is $17.07 and its two-hundred day moving average is $15.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.62 and a current ratio of 0.81.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (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 business had revenue of $471.00 million during the quarter, compared to analyst estimates of $507.46 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis. On average, equities analysts anticipate that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current year.

Institutional Investors Weigh In On Air Transport Services Group

A number of institutional investors have recently made changes to their positions in ATSG. Barclays PLC grew its position in Air Transport Services Group by 247.7% during the third quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock worth $1,180,000 after buying an additional 51,955 shares in the last quarter. Dean Investment Associates LLC grew its holdings in shares of Air Transport Services Group by 39.8% during the 3rd quarter. Dean Investment Associates LLC now owns 173,559 shares of the transportation company’s stock worth $2,810,000 after purchasing an additional 49,437 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Air Transport Services Group in the third quarter worth $269,000. Castleark Management LLC bought a new position in shares of Air Transport Services Group in the third quarter worth $2,826,000. Finally, State Street Corp raised its stake in Air Transport Services Group by 1.1% in the third quarter. State Street Corp now owns 1,258,673 shares of the transportation company’s stock valued at $20,378,000 after purchasing an additional 13,880 shares in the last quarter. 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.