Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume – Should You Buy?

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) saw an uptick in trading volume on Tuesday . 906,415 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 967,949 shares.The stock last traded at $22.28 and had previously closed at $22.24.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ATSG. Loop Capital reaffirmed a “hold” rating and issued a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Truist Financial upped their price target on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of Air Transport Services Group in a research report on Monday. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

The firm’s 50-day moving average is $22.08 and its 200-day moving average is $19.09. The company has a market capitalization of $1.47 billion, a PE ratio of -558.11 and a beta of 0.84. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

Institutional Trading of Air Transport Services Group

Several institutional investors have recently added to or reduced their stakes in ATSG. Alpine Associates Management Inc. purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $31,377,000. FIL Ltd purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $31,146,000. TIG Advisors LLC purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $29,290,000. Nexpoint Asset Management L.P. purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $22,907,000. Finally, Squarepoint Ops LLC purchased a new stake in Air Transport Services Group during the fourth quarter valued at about $17,922,000. 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.