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

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.46 and last traded at $22.41, with a volume of 1617700 shares. The stock had previously closed at $22.44.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Air Transport Services Group in a research note on Sunday. They issued a "hold" rating on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.60.

Air Transport Services Group Price Performance

The stock has a fifty day moving average of $22.32 and a two-hundred day moving average of $20.86. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -561.86 and a beta of 0.89.

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

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Institutional Trading of Air Transport Services Group

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in Air Transport Services Group by 0.8% during the 4th quarter. Rhumbline Advisers now owns 83,623 shares of the transportation company's stock worth $1,838,000 after buying an additional 686 shares in the last quarter. Cetera Trust Company N.A raised its position in shares of Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company's stock worth $256,000 after acquiring an additional 725 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Air Transport Services Group by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,127 shares of the transportation company's stock valued at $640,000 after acquiring an additional 982 shares during the period. AlphaQuest LLC lifted its stake in shares of Air Transport Services Group by 89.8% during the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company's stock valued at $58,000 after acquiring an additional 1,246 shares during the period. Finally, Sterling Capital Management LLC increased its position in Air Transport Services Group by 797.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company's stock worth $36,000 after purchasing an additional 1,459 shares during the period. 91.81% of the stock is owned by institutional investors.

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.