Air Transport Services Group (NASDAQ:ATSG) Sets New 52-Week High – What’s Next?

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.34 and last traded at $22.33, with a volume of 2723436 shares changing hands. The stock had previously closed at $22.24.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ATSG shares. Loop Capital restated 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 boosted their price target on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of Air Transport Services Group in a 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Stock Performance

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its position in shares of Air Transport Services Group by 247.7% in the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock worth $1,180,000 after buying an additional 51,955 shares during the last quarter. Empowered Funds LLC grew its position 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 worth $4,702,000 after buying an additional 29,104 shares during the last quarter. FMR LLC grew its position in shares of Air Transport Services Group by 74.9% in the 3rd quarter. FMR LLC now owns 213,730 shares of the transportation company’s stock worth $3,460,000 after buying an additional 91,521 shares during the last quarter. Systematic Financial Management LP purchased a new position in shares of Air Transport Services Group in the 3rd quarter worth approximately $396,000. Finally, Phocas Financial Corp. grew its position in shares of Air Transport Services Group by 49.4% in the 3rd quarter. Phocas Financial Corp. now owns 223,036 shares of the transportation company’s stock worth $3,611,000 after buying an additional 73,752 shares during the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

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.