Air Transport Services Group, Inc (ATSG) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a strong-buy rating to a hold rating in a research note published on Monday, July 17th.

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 equities research analysts have also weighed in on ATSG. Imperial Capital raised their price objective on shares of Air Transport Services Group from $18.00 to $23.00 and gave the company an in-line rating in a report on Friday, May 5th. Cowen and Company raised their price objective on shares of Air Transport Services Group from $19.00 to $25.00 and gave the company an outperform rating in a report on Friday, May 5th. Sidoti reiterated a buy rating and set a $26.00 price target (up from $23.00) on shares of Air Transport Services Group in a research note on Sunday, May 14th. Finally, BidaskClub lowered shares of Air Transport Services Group from a buy rating to a hold rating in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.29.

Shares of Air Transport Services Group (NASDAQ ATSG) opened at 22.70 on Monday. Air Transport Services Group has a 1-year low of $12.94 and a 1-year high of $25.75. The company’s 50 day moving average price is $23.32 and its 200-day moving average price is $19.92. The company’s market capitalization is $1.34 billion.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings data on Monday, August 7th. The transportation company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Air Transport Services Group had a negative net margin of 4.42% and a positive return on equity of 14.27%. The business had revenue of $253.21 million for the quarter, compared to analyst estimates of $235.69 million. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 43.4% on a year-over-year basis. On average, equities analysts forecast that Air Transport Services Group will post $0.89 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Air Transport Services Group, Inc (ATSG) Downgraded to Hold at Zacks Investment Research” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.com-unik.info/2017/08/12/zacks-investment-research-lowers-air-transport-services-group-inc-atsg-to-hold-updated-updated-updated.html.

In related news, VP Matthew E. Fedders sold 4,102 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $22.24, for a total transaction of $91,228.48. Following the sale, the vice president now owns 24,842 shares of the company’s stock, valued at $552,486.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Quint O. Turner sold 8,048 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $23.08, for a total transaction of $185,747.84. Following the sale, the chief financial officer now directly owns 271,175 shares in the company, valued at approximately $6,258,719. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,414,480 shares of company stock worth $99,000,315. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. EAM Investors LLC increased its stake in Air Transport Services Group by 27.9% in the second quarter. EAM Investors LLC now owns 38,875 shares of the transportation company’s stock worth $847,000 after buying an additional 8,477 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Air Transport Services Group by 21.4% in the second quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock worth $150,000 after buying an additional 1,217 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Air Transport Services Group by 6.1% in the second quarter. Vanguard Group Inc. now owns 4,295,754 shares of the transportation company’s stock worth $93,562,000 after buying an additional 245,120 shares during the last quarter. Northern Trust Corp boosted its position in shares of Air Transport Services Group by 14.7% in the second quarter. Northern Trust Corp now owns 683,458 shares of the transportation company’s stock worth $14,885,000 after buying an additional 87,537 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its position in shares of Air Transport Services Group by 1.1% in the second quarter. Penn Capital Management Co. Inc. now owns 82,225 shares of the transportation company’s stock worth $1,791,000 after buying an additional 899 shares during the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on Air Transport Services Group (ATSG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Air Transport Services Group (NASDAQ:ATSG)

What are top analysts saying about Air Transport Services Group Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Air Transport Services Group Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit