Air Transport Services Group (NASDAQ:ATSG) Reaches New 52-Week High - Time to Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $22.40 and last traded at $22.30, with a volume of 3656 shares changing hands. The stock had previously closed at $22.28.

Analysts Set New Price Targets

Several brokerages have commented on ATSG. Loop Capital reaffirmed a "hold" rating and set a $22.50 target price (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 report on Tuesday, November 5th. Finally, StockNews.com initiated coverage on shares of Air Transport Services Group in a report on Saturday. They set a "hold" rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Air Transport Services Group has an average rating of "Hold" and an average price target of $20.60.

Air Transport Services Group Price Performance

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 has a 50 day moving average price of $22.03 and a 200-day moving average price of $18.58. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -555.49 and a beta of 0.84.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last issued its quarterly earnings results 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). The business 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%. Air Transport Services Group's quarterly revenue was down 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Research analysts predict that Air Transport Services Group, Inc. will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Air Transport Services Group

Large investors have recently bought and sold shares of the stock. River Road Asset Management LLC boosted its position 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 worth $116,085,000 after purchasing an additional 201,722 shares in the last quarter. State Street Corp boosted its holdings in Air Transport Services Group by 1.1% in the third quarter. State Street Corp now owns 1,258,673 shares of the transportation company's stock worth $20,378,000 after acquiring an additional 13,880 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in Air Transport Services Group in the fourth quarter valued at approximately $10,990,000. AQR Capital Management LLC increased its holdings in shares of Air Transport Services Group by 104.3% during the second quarter. AQR Capital Management LLC now owns 305,549 shares of the transportation company's stock valued at $4,238,000 after acquiring an additional 155,984 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Air Transport Services Group by 11.1% during the third quarter. Empowered Funds LLC now owns 290,423 shares of the transportation company's stock worth $4,702,000 after purchasing an additional 29,104 shares during the period. 91.81% of the stock is currently 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.