Air Transport Services Group (NASDAQ:ATSG) Reaches New 52-Week High – Should You Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price reached a new 52-week high on Thursday . The company traded as high as $22.46 and last traded at $22.41, with a volume of 1617700 shares trading hands. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Air Transport Services Group in a research note on Saturday, March 29th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Trading Down 0.2 %

The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The business has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $20.63. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -559.61 and a beta of 0.88.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $521.36 million. Equities analysts forecast that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Air Transport Services Group

A number of hedge funds have recently modified their holdings of ATSG. Independence Bank of Kentucky bought a new position in Air Transport Services Group in the 4th quarter valued at about $33,000. Sterling Capital Management LLC boosted its holdings in shares of Air Transport Services Group by 797.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock worth $36,000 after acquiring an additional 1,459 shares during the period. AlphaQuest LLC grew its position in shares of Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 1,246 shares during the last quarter. Covestor Ltd increased its stake in shares of Air Transport Services Group by 96.8% during the fourth quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock worth $82,000 after purchasing an additional 1,834 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Air Transport Services Group during the 4th quarter worth approximately $99,000. Institutional investors and hedge funds 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.