Analysts Expect Air Transport Services Group Inc. (NASDAQ:A…

Analysts Expect Air Transport Services Group Inc. (NASDAQ:A…


Wall Street brokerages expect Air Transport Services Group Inc. (NASDAQ:ATSG) to announce $381.65 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Air Transport Services Group’s earnings, with the lowest sales estimate coming in at $381.30 million and the highest estimate coming in at $382.00 million. Air Transport Services Group reported sales of $366.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The business is expected to report its next earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that Air Transport Services Group will report full-year sales of $1.56 billion for the current fiscal year. For the next fiscal year, analysts forecast that the company will post sales of $1.75 billion, with estimates ranging from $1.71 billion to $1.79 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Air Transport Services Group.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Wednesday, August 5th. The transportation company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.16. The firm had revenue of $377.79 million for the quarter, compared to analysts’ expectations of $359.35 million. Air Transport Services Group had a net margin of 6.36% and a return on equity of 23.94%.

ATSG has been the topic of several research reports. TheStreet cut shares of Air Transport Services Group from a “b” rating to a “c+” rating in a research report on Thursday, August 6th. Zacks Investment Research upgraded shares of Air Transport Services Group from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research report on Monday, August 10th. BidaskClub lowered shares of Air Transport Services Group from a “hold” rating to a “sell” rating in a report on Thursday. SunTrust Banks increased their target price on shares of Air Transport Services Group from $27.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Stifel Nicolaus increased their target price on shares of Air Transport Services Group from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.10.

In other news, insider W Joseph Payne sold 4,995 shares of Air Transport Services Group stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $26.00, for a total transaction of $129,870.00. Following the sale, the insider now owns 157,145 shares of the company’s stock, valued at approximately $4,085,770. 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 sold 3,728 shares of Air Transport Services Group stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $21.80, for a total transaction of $81,270.40. Following the sale, the director now directly owns 20,000 shares in the company, valued at approximately $436,000. The disclosure for this sale can be found here. In the last three months, insiders sold 32,599 shares of company stock worth $842,131. Insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Air Transport Services Group by 15.2% during the 2nd quarter. Raymond James & Associates now owns 767,688 shares of the transportation company’s stock valued at $17,096,000 after purchasing an additional 101,492 shares in the last quarter. Tudor Investment Corp Et Al bought a new stake in shares of Air Transport Services Group during the 1st quarter valued at about $520,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Air Transport Services Group during the 2nd quarter valued at about $419,000. Invesco Ltd. lifted its position in Air Transport Services Group by 78.3% during the 1st quarter. Invesco Ltd. now owns 139,503 shares of the transportation company’s stock valued at $2,550,000 after acquiring an additional 61,252 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its position in Air Transport Services Group by 10.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 229,474 shares of the transportation company’s stock valued at $5,110,000 after acquiring an additional 21,783 shares during the period. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

Air Transport Services Group stock opened at $24.95 on Friday. The firm’s fifty day moving average price is $25.43 and its 200-day moving average price is $21.36. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.82 and a current ratio of 0.95. The stock has a market cap of $1.54 billion, a P/E ratio of -18.48 and a beta of 0.81. Air Transport Services Group has a fifty-two week low of $13.20 and a fifty-two week high of $28.71.

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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