Air Transport Services Group (NASDAQ:ATSG) Sees Unusually-High Trading Volume - What's Next?

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report) saw an uptick in trading volume on Tuesday . 906,415 shares traded hands during trading, a decline of 6% from the previous session's volume of 967,949 shares.The stock last traded at $22.28 and had previously closed at $22.24.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ATSG shares. StockNews.com initiated coverage on Air Transport Services Group in a research note on Monday. They issued a "hold" rating for the company. Truist Financial raised their price objective on Air Transport Services Group from $15.00 to $22.50 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. Finally, Loop Capital reiterated a "hold" rating and issued a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.60.

Air Transport Services Group Stock Performance

The firm's fifty day simple moving average is $22.11 and its 200 day simple moving average is $19.25. The company has a market capitalization of $1.47 billion, a PE ratio of -557.36 and a beta of 0.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.68.

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

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.