08 Jun Air Transport Services Group (NASDAQ:ATSG) Cut to “Hold” at…
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. “
A number of other research firms also recently weighed in on ATSG. SunTrust Banks started coverage on Air Transport Services Group in a research report on Friday, May 1st. They issued a “buy” rating and a $27.00 target price for the company. Loop Capital assumed coverage on shares of Air Transport Services Group in a research note on Monday, March 30th. They set a “hold” rating and a $20.50 target price on the stock. TheStreet downgraded shares of Air Transport Services Group from a “b-” rating to a “c+” rating in a research note on Thursday, March 5th. ValuEngine downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Monday, June 1st. Finally, BidaskClub downgraded shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.13.
Shares of NASDAQ:ATSG traded up $0.65 during trading on Monday, hitting $23.09. 670,564 shares of the company traded hands, compared to its average volume of 580,110. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -1,154.50 and a beta of 0.86. The business’s fifty day moving average is $20.40 and its 200-day moving average is $20.98. Air Transport Services Group has a one year low of $13.20 and a one year high of $25.60. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 2.64.
Air Transport Services Group (NASDAQ:ATSG) last issued its quarterly earnings data on Tuesday, May 5th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $389.30 million during the quarter, compared to the consensus estimate of $367.25 million. Air Transport Services Group had a return on equity of 22.63% and a net margin of 11.79%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, analysts forecast that Air Transport Services Group will post 1.44 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in ATSG. Engineers Gate Manager LP bought a new stake in shares of Air Transport Services Group in the first quarter valued at about $429,000. Invesco Ltd. lifted its stake in shares of Air Transport Services Group by 78.3% in the first quarter. Invesco Ltd. now owns 139,503 shares of the transportation company’s stock valued at $2,550,000 after buying an additional 61,252 shares during the period. Tudor Investment Corp Et Al bought a new stake in shares of Air Transport Services Group in the first quarter valued at about $520,000. Loomis Sayles & Co. L P lifted its stake in shares of Air Transport Services Group by 0.6% in the first quarter. Loomis Sayles & Co. L P now owns 846,626 shares of the transportation company’s stock valued at $15,476,000 after buying an additional 5,251 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Air Transport Services Group by 7.0% in the first quarter. Geode Capital Management LLC now owns 868,367 shares of the transportation company’s stock valued at $15,873,000 after buying an additional 56,821 shares during the period. Institutional investors own 91.67% 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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