Air Transport Services Group (NASDAQ:ATSG) Upgraded to “Buy” by BidaskClub

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Air Transport Services Group (NASDAQ:ATSG) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday, BidAskClub reports.

ATSG has been the topic of several other reports. TheStreet cut Air Transport Services Group from a “b-” rating to a “c” rating in a research report on Monday, August 5th. ValuEngine cut Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research upgraded Air Transport Services Group from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Air Transport Services Group has a consensus rating of “Buy” and an average target price of $28.60.

NASDAQ ATSG traded up $0.15 during trading on Tuesday, hitting $23.84. 8,733 shares of the company’s stock traded hands, compared to its average volume of 324,698. The business has a 50 day moving average of $20.86 and a 200-day moving average of $21.99. Air Transport Services Group has a 12-month low of $17.06 and a 12-month high of $25.82. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.97 and a beta of 0.93. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.78 and a current ratio of 0.92.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Wednesday, November 6th. The transportation company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Air Transport Services Group had a return on equity of 22.50% and a net margin of 7.30%. The firm had revenue of $366.07 million for the quarter, compared to analysts’ expectations of $344.72 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue was up 78.6% on a year-over-year basis. On average, analysts expect that Air Transport Services Group will post 1.32 EPS for the current year.

In related news, CFO Quint O. Turner sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $23.29, for a total value of $209,610.00. Following the transaction, the chief financial officer now directly owns 233,053 shares in the company, valued at $5,427,804.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider W Joseph Payne sold 4,300 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $23.01, for a total transaction of $98,943.00. Following the completion of the transaction, the insider now owns 148,381 shares in the company, valued at $3,414,246.81. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Air Transport Services Group by 0.6% during the second quarter. Vanguard Group Inc. now owns 5,119,375 shares of the transportation company’s stock valued at $124,912,000 after purchasing an additional 32,729 shares during the period. River Road Asset Management LLC boosted its stake in shares of Air Transport Services Group by 26.8% during the third quarter. River Road Asset Management LLC now owns 3,245,710 shares of the transportation company’s stock valued at $68,225,000 after purchasing an additional 686,501 shares during the period. Waddell & Reed Financial Inc. boosted its stake in shares of Air Transport Services Group by 8.7% during the second quarter. Waddell & Reed Financial Inc. now owns 1,860,565 shares of the transportation company’s stock valued at $45,398,000 after purchasing an additional 148,852 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Air Transport Services Group by 2.9% during the second quarter. Nuveen Asset Management LLC now owns 1,530,305 shares of the transportation company’s stock valued at $37,340,000 after purchasing an additional 42,413 shares during the period. Finally, Private Capital Management LLC boosted its stake in shares of Air Transport Services Group by 0.6% during the second quarter. Private Capital Management LLC now owns 1,351,641 shares of the transportation company’s stock valued at $32,980,000 after purchasing an additional 8,515 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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