Central Pacific Bank Trust Division Purchases 2,518 Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG)

Central Pacific Bank Trust Division raised its position in shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,815 shares of the transportation company’s stock after purchasing an additional 2,518 shares during the period. Central Pacific Bank Trust Division’s holdings in Air Transport Services Group were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Air Transport Services Group in the fourth quarter valued at about $443,000. Broad Bay Capital Management LP purchased a new stake in shares of Air Transport Services Group in the 4th quarter worth approximately $8,831,000. Forest Hill Capital LLC boosted its stake in shares of Air Transport Services Group by 17.0% during the fourth quarter. Forest Hill Capital LLC now owns 137,950 shares of the transportation company’s stock valued at $2,429,000 after purchasing an additional 20,000 shares in the last quarter. ARGA Investment Management LP purchased a new position in Air Transport Services Group during the first quarter valued at approximately $249,000. Finally, Jessup Wealth Management Inc raised its stake in Air Transport Services Group by 6.1% in the first quarter. Jessup Wealth Management Inc now owns 21,791 shares of the transportation company’s stock worth $300,000 after buying an additional 1,254 shares in the last quarter. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 12th. Truist Financial boosted their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.25.

Air Transport Services Group Stock Performance

Shares of ATSG stock opened at $14.66 on Friday. Air Transport Services Group, Inc. has a 12-month low of $11.62 and a 12-month high of $21.78. The business’s fifty day simple moving average is $15.45 and its 200-day simple moving average is $14.21. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08. The company has a market cap of $963.51 million, a PE ratio of 23.27 and a beta of 0.82.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $488.41 million for the quarter, compared to analyst estimates of $513.67 million. Air Transport Services Group had a return on equity of 4.24% and a net margin of 0.90%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Analysts expect that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current fiscal year.

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.