Air Transport Services Group (NASDAQ:ATSG) Hits New 52-Week High – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.44 and last traded at $22.44, with a volume of 174163 shares trading hands. The stock had previously closed at $22.34.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Air Transport Services Group in a research note on Friday, March 21st. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given 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 firm has a market capitalization of $1.48 billion, a PE ratio of -560.73 and a beta of 0.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. The business’s fifty day simple moving average is $22.26 and its 200-day simple moving average is $20.35.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, March 3rd. The transportation company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $521.36 million. Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. As a group, equities research analysts expect that Air Transport Services Group, Inc. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Air Transport Services Group

Several large investors have recently made changes to their positions in the company. CIBRA Capital Ltd purchased a new position in Air Transport Services Group during the 4th quarter valued at approximately $7,383,000. Polar Asset Management Partners Inc. bought a new position in shares of Air Transport Services Group during the 4th quarter valued at approximately $989,000. Pullen Investment Management LLC grew its holdings in shares of Air Transport Services Group by 45.4% in the fourth quarter. Pullen Investment Management LLC now owns 31,205 shares of the transportation company’s stock valued at $686,000 after purchasing an additional 9,747 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Air Transport Services Group by 2,912.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 94,159 shares of the transportation company’s stock worth $2,070,000 after purchasing an additional 91,033 shares during the last quarter. Finally, BCK Capital Management LP purchased a new stake in Air Transport Services Group during the fourth quarter valued at $692,000. 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.