Air Transport Services Group (NASDAQ:ATSG) Price Target Raised to $22.50 at Truist Financial

Air Transport Services Group (NASDAQ:ATSG - Free Report) had its target price increased by Truist Financial from $15.00 to $22.50 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the transportation company's stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus increased their target price on Air Transport Services Group from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Loop Capital reaffirmed a "hold" rating and set a $22.50 target price (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday. 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.60.

Air Transport Services Group Stock Performance

Shares of ATSG stock traded up $0.02 on Tuesday, hitting $22.02. 3,945,984 shares of the stock were exchanged, compared to its average volume of 605,548. Air Transport Services Group has a one year low of $11.62 and a one year high of $22.10. The firm's 50 day moving average is $16.11 and its two-hundred day moving average is $14.85. The firm has a market capitalization of $1.45 billion, a PE ratio of 88.08 and a beta of 0.81. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08.

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

Hedge Funds Weigh In On Air Transport Services Group

Institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP purchased a new position in shares of Air Transport Services Group during the second quarter worth about $34,000. Meeder Asset Management Inc. bought a new stake in Air Transport Services Group during the second quarter valued at approximately $45,000. CWM LLC grew its stake in Air Transport Services Group by 144.4% in the 2nd quarter. CWM LLC now owns 4,197 shares of the transportation company's stock worth $58,000 after buying an additional 2,480 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Air Transport Services Group in the 2nd quarter worth approximately $58,000. Finally, Innealta Capital LLC bought a new position in shares of Air Transport Services Group in the 2nd quarter worth $73,000. 91.81% of the stock is currently owned by institutional investors.

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.