Air Transport Services Group (NASDAQ:ATSG) Sets New 1-Year High – Here’s What Happened

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares hit a new 52-week high during trading on Thursday . The company traded as high as $22.40 and last traded at $22.30, with a volume of 3656 shares changing hands. The stock had previously closed at $22.28.

Analysts Set New Price Targets

ATSG has been the topic of a number of research analyst reports. StockNews.com began coverage on shares of Air Transport Services Group in a report on Friday, January 24th. They issued a “hold” rating on the stock. Truist Financial boosted their target price on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Loop Capital reiterated a “hold” rating and set a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Performance

The business’s fifty day moving average price is $22.02 and its 200-day moving average price is $18.47. The stock has a market capitalization of $1.46 billion, a PE ratio of -556.74 and a beta of 0.85. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 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 analysts’ expectations of $507.46 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities research analysts expect that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of Air Transport Services Group during the 4th quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in shares of Air Transport Services Group by 1,320.1% during the third quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after purchasing an additional 4,528 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Air Transport Services Group by 106.0% during the third quarter. Meeder Asset Management Inc. now owns 6,744 shares of the transportation company’s stock valued at $109,000 after buying an additional 3,471 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Air Transport Services Group during the second quarter valued at $156,000. Finally, Cetera Trust Company N.A increased its holdings in Air Transport Services Group by 14.2% in the 3rd quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock worth $177,000 after buying an additional 1,355 shares in the last quarter. 91.81% of the stock is currently 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.