Independence Bank of Kentucky Takes Position in Air Transport Services Group, Inc. (NASDAQ:ATSG)

Independence Bank of Kentucky acquired a new position in Air Transport Services Group, Inc. (NASDAQ:ATSG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,500 shares of the transportation company’s stock, valued at approximately $33,000.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Air Transport Services Group by 27.1% during the 4th quarter. SG Americas Securities LLC now owns 16,863 shares of the transportation company’s stock valued at $371,000 after buying an additional 3,597 shares during the period. Cetera Trust Company N.A boosted its stake in Air Transport Services Group by 6.6% during the 4th quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 725 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Air Transport Services Group by 4.1% in the 4th quarter. Oliver Luxxe Assets LLC now owns 121,965 shares of the transportation company’s stock worth $2,681,000 after buying an additional 4,849 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 buying an additional 6,334 shares during the period. Finally, Barclays PLC boosted its stake in Air Transport Services Group by 247.7% during the third quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock valued at $1,180,000 after buying an additional 51,955 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATSG. Truist Financial lifted their price objective on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of Air Transport Services Group in a research report on Saturday. They issued a “hold” rating on the stock. Finally, Loop Capital reiterated a “hold” rating and set a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Down 0.2 %

ATSG stock opened at $22.22 on Monday. 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 firm has a market capitalization of $1.46 billion, a P/E ratio of -555.36 and a beta of 0.85. Air Transport Services Group, Inc. has a 52-week low of $11.62 and a 52-week high of $22.33. The company’s 50 day simple moving average is $22.03 and its 200-day simple moving average is $18.58.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results 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). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. During the same quarter in the previous year, the company earned $0.32 EPS. Air Transport Services Group’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities research analysts anticipate that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

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.