StockNews.com Initiates Coverage on Air Transport Services Group (NASDAQ:ATSG)

StockNews.com assumed coverage on shares of Air Transport Services Group (NASDAQ:ATSG - Free Report) in a research report report published on Wednesday morning. The brokerage issued a hold rating on the transportation company's stock.

A number of other equities research analysts also recently commented on the stock. Loop Capital reiterated a "hold" rating and set a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. Truist Financial upped their target price on Air Transport Services Group from $15.00 to $22.50 and gave the company a "hold" rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.60.

Air Transport Services Group Stock Performance

NASDAQ:ATSG traded up $0.01 during midday trading on Wednesday, reaching $22.04. The stock had a trading volume of 1,250,129 shares, compared to its average volume of 1,081,164. The stock has a market cap of $1.45 billion, a P/E ratio of -550.86 and a beta of 0.85. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. Air Transport Services Group has a 12-month low of $11.62 and a 12-month high of $22.33. The firm has a fifty day simple moving average of $21.70 and a two-hundred day simple moving average of $17.58.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. 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 previous year, the company posted $0.32 EPS. The company's revenue was down 10.0% compared to the same quarter last year. On average, equities analysts expect that Air Transport Services Group will post 0.81 EPS for the current year.

Institutional Trading of Air Transport Services Group

A number of institutional investors have recently modified their holdings of ATSG. River Road Asset Management LLC raised its holdings in shares of Air Transport Services Group by 2.9% during the 3rd quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company's stock valued at $116,085,000 after buying an additional 201,722 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Air Transport Services Group by 14.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company's stock worth $41,120,000 after purchasing an additional 380,958 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Air Transport Services Group by 14.8% in the second quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company's stock valued at $25,855,000 after purchasing an additional 239,919 shares during the period. State Street Corp grew its holdings in Air Transport Services Group by 1.1% during the 3rd quarter. State Street Corp now owns 1,258,673 shares of the transportation company's stock valued at $20,378,000 after purchasing an additional 13,880 shares in the last quarter. Finally, Anchor Capital Management Company LLC increased its stake in Air Transport Services Group by 26.4% during the 2nd quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company's stock worth $15,534,000 after buying an additional 233,789 shares during the period. Hedge funds and other institutional investors own 91.81% of the company's stock.

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.