Air Transport Services Group (NASDAQ:ATSG) Shares Up 17.3% on Analyst Upgrade

Air Transport Services Group, Inc. (NASDAQ:ATSG - Get Free Report)'s stock price rose 17.3% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $14.00 to $15.00. Truist Financial currently has a hold rating on the stock. Air Transport Services Group traded as high as $15.90 and last traded at $15.56. Approximately 31,373 shares traded hands during trading, a decline of 94% from the average daily volume of 543,719 shares. The stock had previously closed at $13.26.

Other analysts have also issued reports about the stock. Susquehanna lifted their target price on shares of Air Transport Services Group from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, May 8th. StockNews.com upgraded Air Transport Services Group from a "sell" rating to a "hold" rating in a report on Tuesday, May 7th. TD Cowen lifted their price target on shares of Air Transport Services Group from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.67.

Hedge Funds Weigh In On Air Transport Services Group

Hedge funds have recently bought and sold shares of the company. Pullen Investment Management LLC grew its holdings in Air Transport Services Group by 3.6% in the second quarter. Pullen Investment Management LLC now owns 18,303 shares of the transportation company's stock worth $254,000 after purchasing an additional 640 shares during the period. CWM LLC boosted its holdings in Air Transport Services Group by 53.9% during the fourth quarter. CWM LLC now owns 2,191 shares of the transportation company's stock worth $39,000 after purchasing an additional 767 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Air Transport Services Group by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company's stock worth $767,000 after purchasing an additional 960 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Air Transport Services Group by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 39,667 shares of the transportation company's stock worth $550,000 after acquiring an additional 1,158 shares during the period. Finally, Jessup Wealth Management Inc raised its position in Air Transport Services Group by 6.1% in the first quarter. Jessup Wealth Management Inc now owns 21,791 shares of the transportation company's stock worth $300,000 after acquiring an additional 1,254 shares during the period. Institutional investors own 91.81% of the company's stock.

Air Transport Services Group Trading Down 0.3 %

The firm has a market cap of $1.02 billion, a P/E ratio of 24.63 and a beta of 0.84. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.20. The firm's 50-day simple moving average is $14.13 and its 200 day simple moving average is $13.75.

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, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $488.41 million for the quarter, compared to analyst estimates of $513.67 million. Air Transport Services Group had a net margin of 2.37% and a return on equity of 6.61%. The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. As a group, analysts expect that Air Transport Services Group, Inc. will post 0.75 earnings per share for the current 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.