Air Transport Services Group (NASDAQ:ATSG) Sets New 52-Week High - Here's What Happened

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.49 and last traded at $22.48, with a volume of 3781483 shares traded. The stock had previously closed at $22.32.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Air Transport Services Group in a research note on Monday. They issued 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.60.

Air Transport Services Group Stock 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 company has a market cap of $1.48 billion, a P/E ratio of -561.86 and a beta of 0.89. The stock's fifty day moving average price is $22.34 and its two-hundred day moving average price is $21.06.

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

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Institutional Investors Weigh In On Air Transport Services Group

Hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in Air Transport Services Group by 1.1% in the 3rd quarter. State Street Corp now owns 1,258,673 shares of the transportation company's stock valued at $20,378,000 after purchasing an additional 13,880 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Air Transport Services Group during the third quarter worth $269,000. Barclays PLC lifted its stake in shares of Air Transport Services Group by 247.7% in the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company's stock valued at $1,180,000 after acquiring an additional 51,955 shares during the last quarter. Franklin Resources Inc. grew its position in Air Transport Services Group by 31.2% during the 3rd quarter. Franklin Resources Inc. now owns 26,645 shares of the transportation company's stock worth $434,000 after acquiring an additional 6,334 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in Air Transport Services Group by 4.1% during the 4th quarter. Oliver Luxxe Assets LLC now owns 121,965 shares of the transportation company's stock worth $2,681,000 after acquiring an additional 4,849 shares during the last quarter. 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.