BidaskClub Lowers Air Transport Services Group, Inc (ATSG) to Hold

BidaskClub lowered shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a buy rating to a hold rating in a research note published on Monday, July 24th.

Several other brokerages have also issued reports on ATSG. Zacks Investment Research lowered Air Transport Services Group from a strong-buy rating to a hold rating in a research note on Monday, July 17th. Cowen and Company reiterated an outperform rating on shares of Air Transport Services Group in a report on Monday, May 15th. Imperial Capital upped their price objective on 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. Finally, Sidoti reiterated a buy rating and issued a $26.00 price objective (up previously from $23.00) on shares of Air Transport Services Group in a report on Sunday, May 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $23.13.

Air Transport Services Group (NASDAQ:ATSG) opened at 21.33 on Monday. Air Transport Services Group has a 1-year low of $12.94 and a 1-year high of $25.75. The stock’s market capitalization is $1.26 billion. The stock’s 50 day moving average price is $23.35 and its 200 day moving average price is $20.15.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Monday, August 7th. The transportation company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $253.21 million for the quarter, compared to analyst estimates of $235.69 million. Air Transport Services Group had a positive return on equity of 14.27% and a negative net margin of 4.42%. Air Transport Services Group’s quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. Equities research analysts forecast that Air Transport Services Group will post $0.86 earnings per share for the current year.

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In other Air Transport Services Group news, insider W Joseph Payne sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $24.52, for a total transaction of $122,600.00. Following the transaction, the insider now owns 185,452 shares in the company, valued at approximately $4,547,283.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Willem Mesdag sold 4,377,330 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $22.42, for a total value of $98,139,738.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,386,432 shares of company stock valued at $98,353,567. Insiders own 2.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ATSG. Nationwide Fund Advisors raised its position in Air Transport Services Group by 0.4% in the first quarter. Nationwide Fund Advisors now owns 43,693 shares of the transportation company’s stock worth $701,000 after buying an additional 189 shares during the period. Tudor Investment Corp ET AL raised its position in Air Transport Services Group by 1.1% in the second quarter. Tudor Investment Corp ET AL now owns 18,208 shares of the transportation company’s stock worth $397,000 after buying an additional 206 shares during the period. Legal & General Group Plc raised its position in Air Transport Services Group by 4.3% in the second quarter. Legal & General Group Plc now owns 12,353 shares of the transportation company’s stock worth $269,000 after buying an additional 510 shares during the period. Penn Capital Management Co. Inc. raised its position in 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 period. Finally, 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 during the period. Hedge funds and other institutional investors own 89.14% 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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