Air Transport Services Group (NASDAQ:ATSG) Cut to Hold at StockNews.com

Posted by on Jun 10th, 2022

Air Transport Services Group (NASDAQ:ATSG – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other analysts have also issued reports about the company. Stephens raised their price objective on Air Transport Services Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Cowen raised their price objective on Air Transport Services Group from $31.00 to $40.00 in a research note on Monday, May 9th. Truist Financial raised their price objective on Air Transport Services Group from $35.00 to $40.00 in a research note on Monday, February 28th. Finally, Cowen raised their price objective on Air Transport Services Group from $31.00 to $40.00 in a research note on Monday, May 9th.

Shares of ATSG traded down $1.72 during trading hours on Thursday, hitting $30.30. 338,164 shares of the company were exchanged, compared to its average volume of 440,871. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 11.14 and a beta of 0.54. Air Transport Services Group has a fifty-two week low of $21.42 and a fifty-two week high of $34.54. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. The firm’s fifty day moving average is $30.73 and its 200 day moving average is $29.48.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its earnings results on Thursday, May 5th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $485.86 million for the quarter, compared to analyst estimates of $474.93 million. Air Transport Services Group had a return on equity of 13.30% and a net margin of 12.96%. Air Transport Services Group’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Analysts anticipate that Air Transport Services Group will post 1.98 EPS for the current year.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $31.80, for a total value of $230,232.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey J. Vorholt acquired 2,000 shares of Air Transport Services Group stock in a transaction on Friday, March 25th. The stock was purchased at an average cost of $32.94 per share, with a total value of $65,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,635 shares of company stock valued at $84,652 and have sold 11,365 shares valued at $359,808. 1.70% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in ATSG. Rinkey Investments purchased a new position in shares of Air Transport Services Group during the fourth quarter valued at approximately $42,000. Catalyst Capital Advisors LLC purchased a new position in Air Transport Services Group in the first quarter worth $45,000. Zullo Investment Group Inc. purchased a new position in Air Transport Services Group in the fourth quarter worth $88,000. Public Employees Retirement System of Ohio boosted its position in Air Transport Services Group by 12.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,813 shares of the transportation company’s stock worth $112,000 after purchasing an additional 435 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Air Transport Services Group in the fourth quarter worth $140,000. 93.34% of the stock is currently owned by institutional investors.

Air Transport Services Group Company Profile (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.

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