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

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw unusually-strong trading volume on Monday . Approximately 1,172,004 shares were traded during trading, an increase of 83% from the previous session’s volume of 639,554 shares.The stock last traded at $21.97 and had previously closed at $22.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ATSG shares. Loop Capital reiterated a “hold” rating and issued a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price target on shares of Air Transport Services Group from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Truist Financial upped their price target on shares of Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of Air Transport Services Group in a report on Wednesday, November 13th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Air Transport Services Group presently has an average rating of “Hold” and a consensus target price of $20.60.

Air Transport Services Group Stock Up 0.1 %

The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -549.11 and a beta of 0.81. The stock has a fifty day moving average of $17.35 and a two-hundred day moving average of $15.49. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $471.00 million during the quarter, compared to analyst estimates of $507.46 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business’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 earned $0.32 earnings per share. Sell-side analysts anticipate that Air Transport Services Group, Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new position in Air Transport Services Group in the second quarter valued at approximately $34,000. Meeder Asset Management Inc. acquired a new position in shares of Air Transport Services Group during the 2nd quarter valued at $45,000. CWM LLC boosted its stake in Air Transport Services Group by 144.4% during the second quarter. CWM LLC now owns 4,197 shares of the transportation company’s stock worth $58,000 after acquiring an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Air Transport Services Group in the second quarter worth $58,000. Finally, Innealta Capital LLC acquired a new position in shares of Air Transport Services Group during the second quarter valued at about $73,000. 91.81% of the stock is owned by institutional investors.

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.