Zacks Investment Research Upgrades Air Transport Services Group (NASDAQ:ATSG) to Buy

Zacks Investment Research upgraded shares of Air Transport Services Group (NASDAQ:ATSG) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $22.00 price target on the transportation company’s stock.

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. “

Other equities analysts also recently issued research reports about the company. TheStreet downgraded Air Transport Services Group from a b- rating to a c rating in a research note on Monday, August 5th. BidaskClub upgraded Air Transport Services Group from a strong sell rating to a sell rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $27.80.

Shares of ATSG opened at $19.61 on Tuesday. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.92 and a quick ratio of 0.78. The stock has a 50-day moving average of $20.66 and a 200-day moving average of $22.25. The company has a market cap of $1.16 billion, a PE ratio of 15.69 and a beta of 0.95. Air Transport Services Group has a one year low of $17.06 and a one year high of $25.82.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $334.60 million during the quarter, compared to the consensus estimate of $333.05 million. Air Transport Services Group had a return on equity of 21.56% and a net margin of 2.13%. The company’s quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Analysts expect that Air Transport Services Group will post 1.3 EPS for the current fiscal year.

In other Air Transport Services Group news, insider W Joseph Payne sold 4,300 shares of Air Transport Services Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $23.01, for a total transaction of $98,943.00. Following the completion of the transaction, the insider now owns 148,381 shares in the company, valued at approximately $3,414,246.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Coretz purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $20.00 per share, with a total value of $200,000.00. Following the purchase, the director now directly owns 135,000 shares in the company, valued at approximately $2,700,000. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 13,400 shares of company stock valued at $269,516 and have sold 9,750 shares valued at $227,234. 2.30% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of ATSG. Geode Capital Management LLC lifted its position in shares of Air Transport Services Group by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 662,506 shares of the transportation company’s stock worth $15,111,000 after buying an additional 67,467 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of Air Transport Services Group by 33.6% during the 1st quarter. State of Wisconsin Investment Board now owns 360,650 shares of the transportation company’s stock worth $8,313,000 after buying an additional 90,650 shares in the last quarter. TCW Group Inc. lifted its position in shares of Air Transport Services Group by 4.9% during the 1st quarter. TCW Group Inc. now owns 552,718 shares of the transportation company’s stock worth $12,740,000 after buying an additional 25,696 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Air Transport Services Group by 415.5% during the 1st quarter. First Trust Advisors LP now owns 125,485 shares of the transportation company’s stock worth $2,892,000 after buying an additional 101,141 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Air Transport Services Group during the 2nd quarter worth approximately $211,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Air Transport Services Group

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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