Zacks Investment Research Lowers Atlas Air Worldwide Holdings (AAWW) to Hold

Zacks Investment Research downgraded shares of Atlas Air Worldwide Holdings (NASDAQ:AAWW) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “

Several other research analysts have also recently weighed in on the company. ValuEngine raised Atlas Air Worldwide Holdings from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Stifel Nicolaus reaffirmed a hold rating and set a $69.00 target price on shares of Atlas Air Worldwide Holdings in a research note on Tuesday, September 12th. Cowen and Company reaffirmed a hold rating and set a $70.00 target price on shares of Atlas Air Worldwide Holdings in a research note on Tuesday, September 5th. Susquehanna Bancshares Inc started coverage on Atlas Air Worldwide Holdings in a research note on Thursday, August 17th. They set a positive rating and a $72.00 target price for the company. Finally, BidaskClub raised Atlas Air Worldwide Holdings from a hold rating to a buy rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $70.00.

Atlas Air Worldwide Holdings (NASDAQ:AAWW) traded down 0.41% on Tuesday, hitting $65.63. The stock had a trading volume of 27,145 shares. Atlas Air Worldwide Holdings has a one year low of $40.25 and a one year high of $68.70. The stock has a 50-day moving average of $66.17 and a 200-day moving average of $58.04. The company has a market cap of $1.66 billion, a PE ratio of 28.05 and a beta of 1.40.

Atlas Air Worldwide Holdings (NASDAQ:AAWW) last announced its earnings results on Wednesday, August 2nd. The transportation company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.24. Atlas Air Worldwide Holdings had a return on equity of 8.11% and a net margin of 2.98%. The business had revenue of $517.37 million during the quarter, compared to analysts’ expectations of $500.44 million. During the same quarter last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts expect that Atlas Air Worldwide Holdings will post $4.83 earnings per share for the current fiscal year.

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In other news, Director Duncan J. Mcnabb sold 1,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $60.65, for a total transaction of $60,650.00. Following the completion of the sale, the director now directly owns 12,969 shares of the company’s stock, valued at $786,569.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William J. Flynn sold 5,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $57.65, for a total value of $288,250.00. Following the sale, the chief executive officer now directly owns 206,958 shares of the company’s stock, valued at $11,931,128.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,000 shares of company stock valued at $2,580,750. 2.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Atlas Air Worldwide Holdings by 51,032.3% during the first quarter. BlackRock Inc. now owns 3,013,229 shares of the transportation company’s stock valued at $167,084,000 after purchasing an additional 3,007,336 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Atlas Air Worldwide Holdings by 3.7% during the second quarter. Vanguard Group Inc. now owns 2,277,414 shares of the transportation company’s stock valued at $118,767,000 after purchasing an additional 81,672 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Atlas Air Worldwide Holdings by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,130,850 shares of the transportation company’s stock valued at $111,122,000 after purchasing an additional 11,726 shares during the last quarter. FMR LLC lifted its holdings in shares of Atlas Air Worldwide Holdings by 22.7% during the second quarter. FMR LLC now owns 1,378,443 shares of the transportation company’s stock valued at $71,886,000 after purchasing an additional 254,743 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Atlas Air Worldwide Holdings by 20.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the transportation company’s stock valued at $46,935,000 after purchasing an additional 150,000 shares during the last quarter. 96.41% of the stock is owned by institutional investors and hedge funds.

Atlas Air Worldwide Holdings Company Profile

Atlas Air Worldwide Holdings, Inc is a holding company. The Company provides outsourced aircraft and aviation operating services throughout the world, serving Africa, Asia, Australia, Europe, the Middle East, North America and South America through contractual service arrangements, including those through which it provides aircraft to customers and value-added services, including crew, maintenance and insurance (ACMI), as well as those through which it provides crew, maintenance and insurance, but not the aircraft (CMI); cargo and passenger charter services (Charter), and dry leasing aircraft and engines (Dry Leasing).

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