Air Transport Services Group (NASDAQ:ATSG) Cut to Hold at BidaskClub

BidaskClub lowered shares of Air Transport Services Group (NASDAQ:ATSG) from a buy rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently commented on ATSG. Zacks Investment Research raised Air Transport Services Group from a hold rating to a buy rating and set a $26.00 price target for the company in a research note on Friday, November 8th. ValuEngine cut Air Transport Services Group from a hold rating to a sell rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $28.60.

NASDAQ:ATSG traded down $0.14 on Friday, hitting $22.65. 333,049 shares of the company’s stock traded hands, compared to its average volume of 375,828. The company has a current ratio of 0.84, a quick ratio of 0.73 and a debt-to-equity ratio of 3.01. Air Transport Services Group has a 1 year low of $17.18 and a 1 year high of $25.82. The firm has a 50-day moving average price of $23.19 and a 200-day moving average price of $22.17. The company has a market cap of $1.34 billion, a PE ratio of 17.24 and a beta of 0.99.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Wednesday, November 6th. The transportation company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $366.07 million for the quarter, compared to analysts’ expectations of $344.72 million. Air Transport Services Group had a return on equity of 21.41% and a net margin of 7.30%. The business’s revenue for the quarter was up 78.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. On average, research analysts forecast that Air Transport Services Group will post 1.35 EPS for the current fiscal year.

In related news, insider Brady Thomas Templeton sold 5,906 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $24.00, for a total value of $141,744.00. Following the completion of the sale, the insider now owns 92,523 shares of the company’s stock, valued at approximately $2,220,552. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Quint O. Turner sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $23.29, for a total value of $209,610.00. Following the completion of the sale, the chief financial officer now directly owns 233,053 shares of the company’s stock, valued at approximately $5,427,804.37. The disclosure for this sale can be found here. In the last three months, insiders sold 40,770 shares of company stock valued at $986,969. 2.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new stake in Air Transport Services Group in the 2nd quarter worth approximately $56,000. Tower Research Capital LLC TRC lifted its holdings in Air Transport Services Group by 1,773.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the transportation company’s stock worth $68,000 after purchasing an additional 3,068 shares during the last quarter. Aperio Group LLC acquired a new stake in Air Transport Services Group in the 2nd quarter worth approximately $134,000. US Bancorp DE lifted its holdings in Air Transport Services Group by 47.6% in the 2nd quarter. US Bancorp DE now owns 6,188 shares of the transportation company’s stock worth $151,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Air Transport Services Group in the 2nd quarter worth approximately $275,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.

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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