Air Transport Services Group (NASDAQ:ATSG) Sees Large Volume Increase – Here’s What Happened

Air Transport Services Group, Inc. (NASDAQ:ATSG) saw an uptick in trading volume on Tuesday . 906,415 shares traded hands during trading, a decline of 6% from the previous session’s volume of 967,949 shares.The stock last traded at $22.28 and had previously closed at $22.24.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ATSG. Loop Capital restated a “hold” rating and set a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Truist Financial boosted their target price on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, StockNews.com initiated coverage on Air Transport Services Group in a research report on Monday. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Transport Services Group currently has a consensus rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Stock Performance

The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68. The company has a 50 day simple moving average of $22.10 and a 200-day simple moving average of $19.17. The stock has a market cap of $1.47 billion, a P/E ratio of -557.36 and a beta of 0.84.

Institutional Investors Weigh In On Air Transport Services Group

Hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of Air Transport Services Group in the 4th quarter valued at about $33,000. Sterling Capital Management LLC lifted its stake in shares of Air Transport Services Group by 797.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 1,459 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Air Transport Services Group by 89.8% in the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 1,246 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Air Transport Services Group by 1,320.1% in the 3rd quarter. Blue Trust Inc. now owns 4,871 shares of the transportation company’s stock valued at $79,000 after acquiring an additional 4,528 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Air Transport Services Group by 96.8% in the 4th quarter. Covestor Ltd now owns 3,729 shares of the transportation company’s stock valued at $82,000 after acquiring an additional 1,834 shares during the last quarter. Institutional investors own 91.81% of the company’s stock.

Air Transport Services Group Company Profile

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.