Air Transport Services Group (NASDAQ:ATSG) Hits New 1-Year High – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $22.33 and last traded at $22.27, with a volume of 1075541 shares. The stock had previously closed at $21.98.

Analyst Upgrades and Downgrades

Several analysts recently commented on ATSG shares. StockNews.com started coverage on Air Transport Services Group in a report on Saturday. They set a “hold” rating on the stock. 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 report on Tuesday, November 5th. Finally, Loop Capital reissued a “hold” rating and issued a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. 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, the company presently has an average rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.44 billion, a PE ratio of -548.11 and a beta of 0.85. The stock has a 50-day simple moving average of $19.32 and a 200 day simple moving average of $16.31.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Friday, November 8th. The transportation company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $507.46 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Air Transport Services Group’s revenue for the quarter was down 10.0% compared to the same quarter last year. Equities analysts expect that Air Transport Services Group, Inc. will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Air Transport Services Group

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Air Transport Services Group by 31.2% in the third quarter. Franklin Resources Inc. now owns 26,645 shares of the transportation company’s stock valued at $434,000 after buying an additional 6,334 shares in the last quarter. Barclays PLC grew its stake in shares of Air Transport Services Group by 247.7% in the third quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock valued at $1,180,000 after buying an additional 51,955 shares in the last quarter. Dean Investment Associates LLC grew its stake in shares of Air Transport Services Group by 39.8% in the third quarter. Dean Investment Associates LLC now owns 173,559 shares of the transportation company’s stock valued at $2,810,000 after buying an additional 49,437 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Air Transport Services Group in the third quarter valued at $269,000. Finally, Castleark Management LLC acquired a new stake in shares of Air Transport Services Group in the third quarter valued at $2,826,000. 91.81% of the stock is owned by institutional investors and hedge funds.

About Air Transport Services Group

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.