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

by · The Markets Daily

Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Free Report) saw unusually-high trading volume on Monday . Approximately 1,172,004 shares were traded 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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Loop Capital reaffirmed a “hold” rating and set a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. StockNews.com began coverage on Air Transport Services Group in a report on Wednesday, November 13th. They issued a “hold” rating for the company. Finally, Truist Financial upped their price target on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.60.

Get Our Latest Report on ATSG

Air Transport Services Group Stock Performance

The company has a 50 day moving average price of $17.07 and a 200-day moving average price of $15.37. The company has a quick ratio of 0.62, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.44 billion, a P/E ratio of -550.50 and a beta of 0.81.

Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last issued its quarterly 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 firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $507.46 million. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. Equities analysts expect that Air Transport Services Group, Inc. will post 0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. PAX Financial Group LLC acquired a new position in Air Transport Services Group in the 1st quarter valued at approximately $668,000. Marshall Wace LLP grew its stake in shares of Air Transport Services Group by 300.8% in the 2nd quarter. Marshall Wace LLP now owns 253,425 shares of the transportation company’s stock valued at $3,515,000 after buying an additional 190,202 shares in the last quarter. Anchor Capital Management Company LLC raised its position in Air Transport Services Group by 26.4% during the second quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company’s stock valued at $15,534,000 after acquiring an additional 233,789 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Air Transport Services Group by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company’s stock worth $41,120,000 after acquiring an additional 380,958 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Air Transport Services Group by 11.1% in the 3rd quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company’s stock valued at $4,702,000 after purchasing an additional 29,104 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

About Air Transport Services Group

(Get Free Report)

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.

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