Air Transport Services Group (NASDAQ:ATSG) Sees Large Volume Increase – Here’s Why

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) saw unusually-high trading volume on Tuesday . Approximately 1,763,023 shares were traded during trading, an increase of 154% from the previous session’s volume of 692,996 shares.The stock last traded at $21.90 and had previously closed at $21.98.

Analysts Set New Price Targets

Several brokerages have commented on ATSG. Truist Financial increased their price target on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Air Transport Services Group in a report on Sunday. They issued a “hold” rating on the stock. Finally, Loop Capital restated a “hold” rating and set a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Down 0.4 %

The firm has a 50 day moving average of $19.87 and a 200-day moving average of $16.55. 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 stock has a market capitalization of $1.44 billion, a P/E ratio of -547.50 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Air Transport Services Group by 31.2% in the third quarter. Franklin Resources Inc. now owns 26,645 shares of the transportation company’s stock valued at $434,000 after acquiring an additional 6,334 shares during the period. Barclays PLC grew its stake 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 valued at $1,180,000 after purchasing an additional 51,955 shares during the period. Dean Investment Associates LLC raised its holdings in shares of Air Transport Services Group by 39.8% in the 3rd quarter. Dean Investment Associates LLC now owns 173,559 shares of the transportation company’s stock worth $2,810,000 after buying an additional 49,437 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Air Transport Services Group in the 3rd quarter worth approximately $269,000. Finally, Castleark Management LLC bought a new position in shares of Air Transport Services Group during the 3rd quarter worth approximately $2,826,000. 91.81% of the stock is 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.