Air Transport Services Group, Inc (ATSG) Given Consensus Rating of “Buy” by Brokerages

Shares of Air Transport Services Group, Inc (NASDAQ:ATSG) have earned an average recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.75.

Several brokerages recently commented on ATSG. Cowen and Company reissued an “outperform” rating on shares of Air Transport Services Group in a report on Monday, May 15th. Zacks Investment Research lowered shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 7th. Imperial Capital boosted their price target on shares of Air Transport Services Group from $18.00 to $23.00 and gave the stock an “in-line” rating in a report on Friday, May 5th. BidaskClub lowered shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Friday. Finally, Stephens raised shares of Air Transport Services Group from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Saturday, March 11th.

In other news, insider Willem Mesdag sold 4,377,330 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $22.42, for a total transaction of $98,139,738.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard Francis Corrado sold 20,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $23.05, for a total transaction of $461,000.00. Following the sale, the insider now directly owns 112,839 shares of the company’s stock, valued at approximately $2,600,938.95. The disclosure for this sale can be found here. Insiders have sold 4,465,460 shares of company stock valued at $100,156,857 in the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Air Transport Services Group by 33.9% in the fourth quarter. FMR LLC now owns 1,749,255 shares of the transportation company’s stock valued at $27,918,000 after buying an additional 442,806 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Air Transport Services Group during the first quarter valued at $385,000. Employees Retirement System of Texas boosted its position in shares of Air Transport Services Group by 252.2% in the fourth quarter. Employees Retirement System of Texas now owns 227,000 shares of the transportation company’s stock valued at $3,623,000 after buying an additional 162,548 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Air Transport Services Group by 34.3% in the fourth quarter. Renaissance Technologies LLC now owns 406,000 shares of the transportation company’s stock valued at $6,480,000 after buying an additional 103,600 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Air Transport Services Group during the fourth quarter valued at $5,750,000. 87.34% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Air Transport Services Group (NASDAQ ATSG) traded up 1.63% on Monday, hitting $22.48. 389,450 shares of the stock traded hands. The stock’s 50 day moving average price is $22.55 and its 200 day moving average price is $17.99. Air Transport Services Group has a 52-week low of $12.36 and a 52-week high of $24.21. The stock has a market cap of $1.34 billion, a P/E ratio of 61.09 and a beta of 1.94.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings results on Wednesday, May 3rd. The transportation company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.11 by $0.06. The company had revenue of $237.92 million during the quarter, compared to analyst estimates of $214.09 million. Air Transport Services Group had a net margin of 3.05% and a return on equity of 11.82%. On average, equities analysts expect that Air Transport Services Group will post $0.96 EPS for the current fiscal year.

About Air Transport Services Group

Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.

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