Air Transport Services Group (NASDAQ:ATSG) Shares Gap Up on Better-Than-Expected Earnings

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $13.25, but opened at $15.84. Air Transport Services Group shares last traded at $14.76, with a volume of 126,884 shares traded.

The transportation company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Air Transport Services Group had a return on equity of 7.93% and a net margin of 2.91%. The firm had revenue of $485.50 million during the quarter, compared to analysts’ expectations of $479.77 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts recently commented on ATSG shares. TD Cowen lifted their target price on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna lifted their price objective on Air Transport Services Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday. Truist Financial decreased their target price on Air Transport Services Group from $20.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Finally, StockNews.com raised Air Transport Services Group from a “sell” rating to a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.83.

Institutional Investors Weigh In On Air Transport Services Group

Several hedge funds have recently made changes to their positions in ATSG. CWM LLC raised its holdings in Air Transport Services Group by 53.9% in the 4th quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 767 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Air Transport Services Group by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company’s stock valued at $767,000 after purchasing an additional 960 shares in the last quarter. Strs Ohio raised its stake in shares of Air Transport Services Group by 10.5% in the third quarter. Strs Ohio now owns 12,600 shares of the transportation company’s stock valued at $262,000 after purchasing an additional 1,200 shares in the last quarter. Jessup Wealth Management Inc lifted its position in Air Transport Services Group by 6.1% in the first quarter. Jessup Wealth Management Inc now owns 21,791 shares of the transportation company’s stock worth $300,000 after purchasing an additional 1,254 shares during the period. Finally, Barclays PLC boosted its stake in Air Transport Services Group by 9.2% during the third quarter. Barclays PLC now owns 16,796 shares of the transportation company’s stock worth $350,000 after buying an additional 1,412 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Price Performance

The stock has a market cap of $958.27 million, a P/E ratio of 19.45 and a beta of 0.85. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $12.91 and its 200-day simple moving average is $15.01.

About Air Transport Services Group

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. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, 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.