Air Transport Services Group (NASDAQ:ATSG) Shares Up 3.8% – Here’s What Happened

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG) rose 3.8% on Friday . The company traded as high as $15.81 and last traded at $15.79. Approximately 16,374 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 524,905 shares. The stock had previously closed at $15.21.

Analysts Set New Price Targets

A number of research firms have issued reports on ATSG. Truist Financial boosted their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.25.

Air Transport Services Group Stock Up 6.4 %

The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 64.64 and a beta of 0.82. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 1.08. The stock’s 50 day moving average is $15.37 and its 200 day moving average is $14.29.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Thursday, August 8th. The transportation company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Air Transport Services Group had a return on equity of 4.24% and a net margin of 0.90%. The company had revenue of $488.41 million for the quarter, compared to the consensus estimate of $513.67 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Analysts forecast that Air Transport Services Group, Inc. will post 0.84 EPS for the current year.

Hedge Funds Weigh In On Air Transport Services Group

Large investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new stake in Air Transport Services Group during the second quarter valued at approximately $34,000. Meeder Asset Management Inc. acquired a new stake in shares of Air Transport Services Group during the 2nd quarter valued at $45,000. CWM LLC boosted its stake in shares of Air Transport Services Group by 144.4% during the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after acquiring an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Air Transport Services Group in the 2nd quarter worth $58,000. Finally, Innealta Capital LLC acquired a new stake in shares of Air Transport Services Group during the second quarter worth $73,000. Institutional investors own 91.81% of the company’s stock.

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.