Air Transport Services Group (NASDAQ:ATSG) Sees Large Volume Increase - Still a Buy?

Shares of Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,763,023 shares changed hands during trading, an increase of 154% from the previous session's volume of 692,996 shares.The stock last traded at $21.90 and had previously closed at $21.98.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ATSG shares. Loop Capital reissued a "hold" rating and issued a $22.50 price target (up from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. StockNews.com started coverage on Air Transport Services Group in a report on Sunday. They set a "hold" rating for the company. Finally, Truist Financial upped their price objective 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Air Transport Services Group currently has a consensus rating of "Hold" and a consensus price target of $20.60.

Air Transport Services Group Price Performance

The company has a fifty day simple moving average of $19.87 and a two-hundred day simple moving average of $16.55. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -547.50 and a beta of 0.85. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81.

Air Transport Services Group (NASDAQ:ATSG - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $471.00 million for the quarter, compared to the consensus estimate of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The company's revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities research analysts expect that Air Transport Services Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Air Transport Services Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Air Transport Services Group by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company's stock valued at $41,120,000 after purchasing an additional 380,958 shares in the last quarter. American Century Companies Inc. boosted its position in 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 buying an additional 239,919 shares in the last quarter. Anchor Capital Management Company LLC grew its stake in shares of Air Transport Services Group by 26.4% during the second 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 last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Air Transport Services Group during the third quarter worth $3,411,000. Finally, River Road Asset Management LLC lifted its stake in shares of Air Transport Services Group by 2.9% in 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 acquiring an additional 201,722 shares during the last quarter. 91.81% of the stock is currently 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.