Air Transport Services Group, Inc (ATSG) Downgraded to “Hold” at BidaskClub

Air Transport Services Group, Inc (NASDAQ:ATSG) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday.

Other equities research analysts have also recently issued reports about the stock. Sidoti reissued a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Air Transport Services Group in a research report on Sunday, May 14th. Zacks Investment Research raised shares of Air Transport Services Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Imperial Capital boosted their price target on shares of Air Transport Services Group from $18.00 to $23.00 and gave the company an “in-line” rating in a research report on Friday, May 5th. Finally, Cowen and Company reissued an “outperform” rating on shares of Air Transport Services Group in a research report on Monday, May 15th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.50.

Air Transport Services Group (NASDAQ ATSG) traded up 0.65% during trading on Monday, hitting $23.24. The company had a trading volume of 275,275 shares. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 63.15 and a beta of 1.99. Air Transport Services Group has a 52-week low of $12.94 and a 52-week high of $24.21. The firm’s 50 day moving average is $22.64 and its 200-day moving average is $19.13.

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

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In other Air Transport Services Group news, insider Brady Thomas Templeton sold 3,500 shares of Air Transport Services Group stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $23.72, for a total value of $83,020.00. Following the transaction, the insider now directly owns 90,729 shares in the company, valued at $2,152,091.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew E. Fedders sold 4,102 shares of Air Transport Services Group stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $22.24, for a total transaction of $91,228.48. Following the completion of the transaction, the vice president now owns 24,842 shares in the company, valued at $552,486.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,468,192 shares of company stock worth $100,226,850. 2.20% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in Air Transport Services Group by 18.2% in the first quarter. Victory Capital Management Inc. now owns 6,887 shares of the transportation company’s stock worth $111,000 after buying an additional 1,058 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Air Transport Services Group by 87.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,136 shares of the transportation company’s stock worth $180,000 after buying an additional 5,196 shares in the last quarter. SG Americas Securities LLC raised its position in Air Transport Services Group by 17.1% in the first quarter. SG Americas Securities LLC now owns 11,196 shares of the transportation company’s stock worth $180,000 after buying an additional 1,632 shares in the last quarter. Globeflex Capital L P raised its position in Air Transport Services Group by 17,878.8% in the first quarter. Globeflex Capital L P now owns 11,866 shares of the transportation company’s stock worth $190,000 after buying an additional 11,800 shares in the last quarter. Finally, Intrust Bank NA acquired a new position in Air Transport Services Group during the first quarter worth approximately $233,000. Institutional investors own 87.32% of the company’s stock.

Air Transport Services Group Company Profile

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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