Air Transport Services Group, Inc. (NASDAQ:ATSG) Expected to Post Quarterly Sales of $455.05 Million
Stock analysts predict Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) will post $455.05 million in sales for the current quarter, Zacks reports. Two analysts released earnings estimates for Air Transport Services Group, with estimates ranging from $451.40 million to $458.70 million. The airline services group recorded sales of $376.09 million in the same quarter last year, suggesting a positive year-over-year growth rate of 21%. The company is due to announce its next results on Monday, January 1.
On average, analysts expect Air Transport Services Group to record annual sales of $1.90 billion for the current year, with estimates ranging from $1.89 billion to $1.91 billion. For next year, analysts expect the company to register sales of $2.00 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks Investment Research sales averages are an average based on a survey of sell-side research analysts who cover the airline services group.
Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released quarterly earnings data on Thursday, February 24. The transportation company reported EPS of $0.52 for the quarter. Air Transport Services Group achieved a return on equity of 11.57% and a net margin of 13.34%. The company had revenue of $482.37 million in the quarter.
A number of analysts have recently commented on the company. Stephens raised his price target on Air Transport Services Group from $34.00 to $40.00 and gave the company an “overweight” rating in a Wednesday, March 2 research note. StockNews.com upgraded Air Transport Services Group from a “buy” rating to a “hold” rating in a Friday, Feb. 25 research report. Finally, Truist Financial raised its price target on Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 research report. One research analyst rated the stock with a sell rating, another assigned a hold rating and two assigned the stock a buy rating. According to data from MarketBeat.com, Air Transport Services Group currently has an average rating of “Hold” and a consensus price target of $33.86.
Separately, insider James T. Pradetto sold 3,242 shares of Air Transport Services Group in a trade dated Friday, March 11. The stock was sold at an average price of $31.47, for a total value of $102,025.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, insider Michael L. Berger sold 7,240 shares of the company in a trade dated Wednesday, March 16. The stock was sold at an average price of $31.80, for a total transaction of $230,232.00. The disclosure of this sale can be found here. 2.00% of the shares are currently held by insiders of the company.
Hedge funds have recently changed their stock holdings. River Road Asset Management LLC increased its holdings of Air Transport Services Group shares by 8.6% during the third quarter. River Road Asset Management LLC now owns 9,486,061 shares of the transportation company valued at $244,835,000 after purchasing an additional 750,442 shares in the last quarter. Hillcrest Asset Management LLC acquired a new position in Air Transport Services Group during the fourth quarter at a value of $12,678,000. Bernzott Capital Advisors raised its position in shares of Air Transport Services Group by 24.1% during the third quarter. Bernzott Capital Advisors now owns 1,183,045 shares of the transportation company worth $30,534,000 after buying an additional 229,785 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Air Transport Services Group during Q3 for a value of approximately $5,594,000. Finally, State Street Corp raised its position in shares of Air Transport Services Group by 12.3% during the 4th quarter. State Street Corp now owns 1,604,292 shares of the transportation company worth $47,134,000 after buying an additional 175,991 shares in the last quarter. 93.67% of the shares are currently held by institutional investors.
Shares of the NASDAQ ATSG opened at $31.65 on Tuesday. The stock’s fifty-day moving average is $28.69 and its 200-day moving average is $27.44. The stock has a market capitalization of $2.35 billion, a P/E ratio of 11.99 and a beta of 0.52. The company has a debt ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.13. Air Transport Services Group has a 52-week low of $21.42 and a 52-week high of $32.73.
Airline Services Group Company Profile (Get an evaluation)
Air Transport Services Group, Inc engages in the provision of flight operations, aircraft rentals, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It operates through CAM and ACMI Services segments. The CAM segment includes the company’s aircraft leasing business.
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