Atlas Air Worldwide (NASDAQ:AAWW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, January 9th.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “
Several other brokerages have also issued reports on AAWW. ValuEngine lowered Atlas Air Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Stifel Nicolaus raised Atlas Air Worldwide from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Tuesday, November 7th. BidaskClub raised Atlas Air Worldwide from a “strong sell” rating to a “sell” rating in a report on Thursday, December 21st. Finally, Cowen reissued a “hold” rating on shares of Atlas Air Worldwide in a report on Thursday, October 12th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.50.
Atlas Air Worldwide (NASDAQ:AAWW) last released its quarterly earnings results on Tuesday, November 7th. The transportation company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.05). The company had revenue of $535.70 million during the quarter, compared to analysts’ expectations of $521.29 million. Atlas Air Worldwide had a net margin of 2.06% and a return on equity of 8.14%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. sell-side analysts expect that Atlas Air Worldwide will post 4.59 earnings per share for the current fiscal year.
In other Atlas Air Worldwide news, CEO William J. Flynn sold 5,000 shares of Atlas Air Worldwide stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $61.21, for a total value of $306,050.00. Following the transaction, the chief executive officer now directly owns 171,958 shares of the company’s stock, valued at approximately $10,525,549.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Schwartz sold 4,027 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $59.75, for a total value of $240,613.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,222 shares of company stock valued at $1,168,998. Corporate insiders own 2.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AAWW. Schwab Charles Investment Management Inc. increased its stake in shares of Atlas Air Worldwide by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 201,083 shares of the transportation company’s stock valued at $10,487,000 after buying an additional 13,345 shares during the period. Legal & General Group Plc increased its stake in shares of Atlas Air Worldwide by 9.6% during the second quarter. Legal & General Group Plc now owns 45,371 shares of the transportation company’s stock valued at $2,366,000 after buying an additional 3,978 shares during the period. Principal Financial Group Inc. increased its stake in shares of Atlas Air Worldwide by 0.6% during the second quarter. Principal Financial Group Inc. now owns 192,153 shares of the transportation company’s stock valued at $10,021,000 after buying an additional 1,168 shares during the period. Stevens Capital Management LP purchased a new position in shares of Atlas Air Worldwide during the second quarter valued at approximately $348,000. Finally, Elk Creek Partners LLC increased its stake in shares of Atlas Air Worldwide by 16.3% during the second quarter. Elk Creek Partners LLC now owns 197,515 shares of the transportation company’s stock valued at $10,300,000 after buying an additional 27,646 shares during the period.
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Atlas Air Worldwide Company Profile
Atlas Air Worldwide Holdings, Inc is a holding company. The Company provides outsourced aircraft and aviation operating services throughout the world, serving Africa, Asia, Australia, Europe, the Middle East, North America and South America through contractual service arrangements, including those through which it provides aircraft to customers and value-added services, including crew, maintenance and insurance (ACMI), as well as those through which it provides crew, maintenance and insurance, but not the aircraft (CMI); cargo and passenger charter services (Charter), and dry leasing aircraft and engines (Dry Leasing).
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