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

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw an uptick in trading volume on Tuesday . 1,763,023 shares changed hands during mid-day trading, an increase of 154% from the previous session’s volume of 692,996 shares.The stock last traded at $21.90 and had previously closed at $21.98.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Loop Capital restated a “hold” rating and set a $22.50 price target (up previously from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Truist Financial raised 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 started coverage on Air Transport Services Group in a research note on Sunday. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Air Transport Services Group has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Stock Performance

The stock has a 50 day moving average price of $20.14 and a two-hundred day moving average price of $16.64. 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 market capitalization of $1.44 billion, a price-to-earnings ratio of -547.36 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. Air Transport Services Group’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that Air Transport Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Air Transport Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in ATSG. Pullen Investment Management LLC boosted its holdings in Air Transport Services Group by 3.6% in the second quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company’s stock valued at $254,000 after acquiring an additional 640 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Air Transport Services Group by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,804 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 733 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Air Transport Services Group by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company’s stock worth $550,000 after buying an additional 1,158 shares during the period. Cetera Trust Company N.A raised its stake in shares of Air Transport Services Group by 14.2% during the third quarter. Cetera Trust Company N.A now owns 10,910 shares of the transportation company’s stock worth $177,000 after buying an additional 1,355 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in Air Transport Services Group by 13.0% in the third quarter. Central Pacific Bank Trust Division now owns 21,815 shares of the transportation company’s stock valued at $353,000 after acquiring an additional 2,518 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

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.