Air Transport Services Group (NASDAQ:ATSG) Hits New 12-Month High – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares reached a new 52-week high on Monday . The stock traded as high as $22.33 and last traded at $22.27, with a volume of 1075541 shares traded. The stock had previously closed at $21.98.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Air Transport Services Group in a research report on Saturday. They issued a “hold” rating on the stock. Stifel Nicolaus increased 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 report on Monday, August 12th. Loop Capital reiterated a “hold” rating and issued a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Finally, Truist Financial increased 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 research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Performance

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 firm’s 50 day simple moving average is $19.07 and its 200 day simple moving average is $16.18.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, equities analysts expect that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Air Transport Services Group

A number of large investors have recently made changes to their positions in ATSG. Gladius Capital Management LP bought a new stake in shares of Air Transport Services Group in the 2nd quarter worth about $34,000. Meeder Asset Management Inc. bought a new stake in shares of Air Transport Services Group in the 2nd quarter worth about $45,000. CWM LLC increased its holdings in shares of Air Transport Services Group by 144.4% in the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after buying an additional 2,480 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Air Transport Services Group during the 2nd quarter valued at about $58,000. Finally, Innealta Capital LLC bought a new position in Air Transport Services Group during the 2nd quarter valued at about $73,000. 91.81% of the stock is currently owned by institutional investors.

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.