Air Transport Services Group, Inc (ATSG) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Air Transport Services Group, Inc (NASDAQ:ATSG) from a sell rating to a hold rating in a research report released on Monday.

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. “

Several other research firms have also issued reports on ATSG. BidaskClub raised Air Transport Services Group from a hold rating to a buy rating in a report on Saturday, July 8th. Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 target price on shares of Air Transport Services Group in a report on Friday, August 4th. TheStreet lowered Air Transport Services Group from a b+ rating to a c+ rating in a report on Monday, August 7th. Cowen and Company reaffirmed an outperform rating and issued a $27.00 target price (up from $25.00) on shares of Air Transport Services Group in a report on Thursday, August 10th. Finally, Susquehanna Bancshares Inc started coverage on Air Transport Services Group in a report on Thursday, August 17th. They issued a neutral rating and a $22.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Air Transport Services Group presently has a consensus rating of Hold and a consensus target price of $23.13.

Air Transport Services Group (NASDAQ ATSG) opened at 24.78 on Monday. The company has a 50-day moving average of $23.85 and a 200-day moving average of $22.18. Air Transport Services Group has a one year low of $12.94 and a one year high of $25.91. The stock’s market capitalization is $1.47 billion.

Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Monday, August 7th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $253.21 million during the quarter, compared to the consensus estimate 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%. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. On average, equities analysts forecast that Air Transport Services Group will post $0.86 EPS for the current fiscal year.

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In other Air Transport Services Group news, Director Richard M. Baudouin sold 8,100 shares of Air Transport Services Group stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $21.71, for a total transaction of $175,851.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider W Joseph Payne sold 7,500 shares of Air Transport Services Group stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $24.20, for a total value of $181,500.00. Following the sale, the insider now directly owns 177,952 shares in the company, valued at $4,306,438.40. The disclosure for this sale can be found here. Insiders sold 20,600 shares of company stock worth $479,951 over the last three months. 2.20% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Air Transport Services Group by 18.2% during the 1st quarter. Victory Capital Management Inc. now owns 6,887 shares of the transportation company’s stock valued at $111,000 after acquiring an additional 1,058 shares in the last quarter. Advisor Group Inc. boosted its position in Air Transport Services Group by 21.4% during the 2nd quarter. Advisor Group Inc. now owns 6,895 shares of the transportation company’s stock valued at $150,000 after acquiring an additional 1,217 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Air Transport Services Group during the 2nd quarter valued at approximately $168,000. First Mercantile Trust Co. bought a new stake in Air Transport Services Group during the 2nd quarter valued at approximately $169,000. Finally, Envestnet Asset Management Inc. boosted its position in Air Transport Services Group by 87.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,136 shares of the transportation company’s stock valued at $180,000 after acquiring an additional 5,196 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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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