Air Transport Services Group (NASDAQ:ATSG) Announces Quarterly Earnings Results

Air Transport Services Group (NASDAQ:ATSGGet Rating) released its earnings results on Thursday. The transportation company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.09, Briefing.com reports. The company had revenue of $510.00 million for the quarter, compared to the consensus estimate of $505.54 million. Air Transport Services Group had a net margin of 11.01% and a return on equity of 14.74%. Air Transport Services Group’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS.

Air Transport Services Group Stock Performance

Shares of ATSG stock traded down $1.60 during trading hours on Friday, hitting $31.40. The company’s stock had a trading volume of 470,406 shares, compared to its average volume of 257,862. The company has a 50 day moving average of $29.87 and a 200 day moving average of $29.94. The stock has a market cap of $2.34 billion, a PE ratio of 12.08 and a beta of 0.56. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.94. Air Transport Services Group has a 12-month low of $23.68 and a 12-month high of $34.54.

Wall Street Analysts Forecast Growth

ATSG has been the topic of several research analyst reports. Cowen boosted their target price on shares of Air Transport Services Group from $31.00 to $40.00 in a research report on Monday, May 9th. Cowen upped their price objective on shares of Air Transport Services Group from $31.00 to $40.00 in a report on Monday, May 9th. Finally, StockNews.com downgraded shares of Air Transport Services Group from a “buy” rating to a “hold” rating in a report on Saturday, June 18th.

Institutional Trading of Air Transport Services Group

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Trust N.A. purchased a new stake in Air Transport Services Group during the first quarter worth $216,000. Quantamental Technologies LLC purchased a new stake in Air Transport Services Group during the first quarter worth $233,000. APG Asset Management N.V. purchased a new stake in Air Transport Services Group during the first quarter worth $385,000. PNC Financial Services Group Inc. boosted its holdings in Air Transport Services Group by 714.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,706 shares of the transportation company’s stock worth $391,000 after buying an additional 10,268 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Air Transport Services Group during the first quarter worth $684,000. 93.34% of the stock is owned by hedge funds and other institutional investors.

About Air Transport Services Group

(Get Rating)

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing and air cargo transportation and related services in the United States and internationally. The company offers aircraft, flight crews, aircraft maintenance, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.

Further Reading

Earnings History for Air Transport Services Group (NASDAQ:ATSG)

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