Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume Following Analyst Upgrade

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report) shares saw unusually-strong trading volume on Tuesday after Truist Financial raised their price target on the stock from $15.00 to $22.50. Truist Financial currently has a hold rating on the stock. Approximately 668,530 shares were traded during trading, an increase of 13% from the previous session's volume of 590,233 shares.The stock last traded at $21.97 and had previously closed at $22.00.

A number of other equities research analysts have also issued reports on the company. Stifel Nicolaus upped their target price on Air Transport Services Group from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Loop Capital reissued a "hold" rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.60.

Institutional Trading of Air Transport Services Group

Several large investors have recently added to or reduced their stakes in ATSG. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Air Transport Services Group by 14.7% in 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 buying an additional 380,958 shares during the last quarter. American Century Companies Inc. increased its position in shares of Air Transport Services Group by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company's stock worth $25,855,000 after purchasing an additional 239,919 shares during the last quarter. Anchor Capital Management Company LLC raised its stake in shares of Air Transport Services Group by 26.4% in the 2nd quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company's stock valued at $15,534,000 after purchasing an additional 233,789 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Air Transport Services Group by 82.3% during the first quarter. First Eagle Investment Management LLC now owns 487,930 shares of the transportation company's stock worth $6,714,000 after purchasing an additional 220,300 shares during the last quarter. Finally, River Road Asset Management LLC grew its stake in Air Transport Services Group by 2.9% in the third 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. 91.81% of the stock is currently owned by institutional investors and hedge funds.

Air Transport Services Group Price Performance

The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $16.11 and a 200-day simple moving average of $14.85. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 88.08 and a beta of 0.81.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The transportation company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. Air Transport Services Group had a net margin of 0.90% and a return on equity of 4.24%. The company had revenue of $488.41 million for the quarter, compared to the consensus estimate of $513.67 million. During the same period last year, the firm posted $0.57 EPS. The company's revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts anticipate that Air Transport Services Group, Inc. will post 0.84 EPS for the current fiscal year.

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.