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

StockNews.com began coverage on shares of Air Transport Services Group (NASDAQ:ATSG) in a report released on Friday. The firm set a “hold” rating on the transportation company’s stock.

ATSG has been the subject of several other reports. 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 research report on Tuesday, November 5th. Loop Capital reissued 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Price Performance

NASDAQ ATSG opened at $22.17 on Friday. The firm’s 50 day moving average is $22.00 and its 200-day moving average is $18.20. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.46 billion, a PE ratio of -554.11 and a beta of 0.85. Air Transport Services Group has a 12-month low of $11.62 and a 12-month high of $22.33.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. Equities research analysts anticipate that Air Transport Services Group will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Transport Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Trust Company N.A raised its position in shares of Air Transport Services Group by 6.6% in the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 725 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Air Transport Services Group by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock valued at $386,000 after acquiring an additional 733 shares during the period. Central Pacific Bank Trust Division raised its holdings in 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 valued at $353,000 after acquiring an additional 2,518 shares during the period. Pullen Investment Management LLC boosted its holdings in shares of Air Transport Services Group by 17.2% during the third quarter. Pullen Investment Management LLC now owns 21,458 shares of the transportation company’s stock worth $347,000 after acquiring an additional 3,155 shares during the period. Finally, Creative Planning grew its position in shares of Air Transport Services Group by 33.2% in the third quarter. Creative Planning now owns 13,384 shares of the transportation company’s stock valued at $217,000 after purchasing an additional 3,338 shares during the last quarter. 91.81% of the stock is owned by 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.