Zacks Investment Research Downgrades Air Transport Services Group, Inc (NASDAQ:ATSG) to Sell

Zacks Investment Research lowered shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a hold rating to a sell rating in a research report report published on Wednesday, November 8th.

According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “

A number of other brokerages have also recently issued reports on ATSG. Stephens reiterated an overweight rating and set a $29.00 target price (up previously from $27.00) on shares of Air Transport Services Group in a research report on Tuesday, November 7th. Stifel Nicolaus reiterated a hold rating and set a $22.00 target price (up previously from $20.00) on shares of Air Transport Services Group in a research report on Tuesday, November 7th. BidaskClub raised shares of Air Transport Services Group from a hold rating to a buy rating in a report on Tuesday, August 1st. Cowen and Company set a $27.00 price objective on shares of Air Transport Services Group and gave the stock a buy rating in a report on Friday, October 13th. Finally, TheStreet lowered shares of Air Transport Services Group from a b+ rating to a c+ rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.25.

Shares of Air Transport Services Group (NASDAQ ATSG) opened at $23.43 on Wednesday. The stock has a market cap of $1,390.00, a PE ratio of 29.53 and a beta of 2.00. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 1.62. Air Transport Services Group has a 1 year low of $14.97 and a 1 year high of $26.75.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Monday, November 6th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $254.10 million during the quarter, compared to analysts’ expectations of $256.13 million. Air Transport Services Group had a negative net margin of 7.77% and a positive return on equity of 16.62%. The firm’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. analysts expect that Air Transport Services Group will post 0.86 earnings per share for the current fiscal year.

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In other news, insider W Joseph Payne sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $24.20, for a total value of $181,500.00. Following the transaction, the insider now owns 177,952 shares of the company’s stock, valued at approximately $4,306,438.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Edward Roux sold 10,012 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $23.61, for a total transaction of $236,383.32. Following the completion of the transaction, the director now directly owns 27,862 shares in the company, valued at approximately $657,821.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,612 shares of company stock worth $593,734. Insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Air Transport Services Group by 21.4% in the 2nd quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock valued at $150,000 after purchasing an additional 1,217 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Air Transport Services Group in the 2nd quarter valued at about $168,000. First Mercantile Trust Co. bought a new position in shares of Air Transport Services Group in the 2nd quarter valued at about $169,000. SG Americas Securities LLC bought a new position in shares of Air Transport Services Group in the 3rd quarter valued at about $258,000. Finally, Prudential Financial Inc. bought a new position in shares of Air Transport Services Group in the 3rd quarter valued at about $262,000. 89.24% of the stock is currently owned by institutional investors.

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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