Atlas Air Worldwide (NASDAQ:AAWW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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 firms have also recently weighed in on AAWW. ValuEngine cut shares of Atlas Air Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Stifel Nicolaus upgraded shares of Atlas Air Worldwide from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, November 7th. BidaskClub upgraded shares of Atlas Air Worldwide from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. Finally, Cowen reiterated a “hold” rating on shares of Atlas Air Worldwide in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Atlas Air Worldwide presently has a consensus rating of “Buy” and an average price target of $70.00.
Atlas Air Worldwide (NASDAQ:AAWW) last posted its quarterly earnings data on Tuesday, November 7th. The transportation company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.05). Atlas Air Worldwide had a return on equity of 8.14% and a net margin of 2.06%. The company had revenue of $535.70 million during the quarter, compared to the consensus estimate of $521.29 million. During the same quarter last year, the firm earned $1.09 EPS. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. equities research analysts anticipate that Atlas Air Worldwide will post 4.58 earnings per share for the current year.
In other news, CFO Spencer Schwartz sold 4,027 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $59.75, for a total value of $240,613.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Flynn sold 5,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $64.50, for a total transaction of $322,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,222 shares of company stock valued at $1,491,498 in the last quarter. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. acquired a new position in shares of Atlas Air Worldwide in the 2nd quarter valued at $201,000. Amalgamated Bank acquired a new position in shares of Atlas Air Worldwide in the 3rd quarter valued at $208,000. New England Research & Management Inc. acquired a new position in shares of Atlas Air Worldwide in the 3rd quarter valued at $273,000. Piedmont Investment Advisors LLC acquired a new position in shares of Atlas Air Worldwide in the 2nd quarter valued at $285,000. Finally, USA Financial Portformulas Corp acquired a new position in shares of Atlas Air Worldwide in the 3rd quarter valued at $339,000. 96.40% of the stock is owned by institutional investors.
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Atlas Air Worldwide 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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