Air Transport Services Group (NASDAQ:ATSG) downgraded to “Hold” on StockNews.com

Air Transport Services Group (NASDAQ:ATSG – Get a Rating) was downgraded by StockNews.com analysts from a “buy” rating to a “hold” rating in a report released Saturday.

The ATSG has been the subject of several other reports. Cowen raised its price target on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 report. Cowen raised its price target on Air Transport Services Group from $31.00 to $40.00 in a Monday, May 9 research report. Truist Financial raised its price target on Air Transport Services Group from $35.00 to $40.00 in a research report on Monday, February 28. Finally, Stephens raised his target price on Air Transport Services Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a Wednesday, March 2 research note.

Shares of Air Transport Services Group opened at $28.64 on Friday. The company has a market capitalization of $2.13 billion, a price-earnings ratio of 10.53 and a beta of 0.54. The company has a debt ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.89. Air Transport Services Group has a 52-week low of $21.42 and a 52-week high of $34.54. The stock has a 50-day simple moving average of $30.67 and a 200-day simple moving average of $29.58.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its quarterly results on Thursday, May 5. The transportation company reported EPS of $0.56 for the quarter, beating the consensus estimate of $0.45 by $0.11. The company posted revenue of $485.86 million for the quarter, versus a consensus estimate of $474.93 million. Air Transport Services Group achieved a return on equity of 13.30% and a net margin of 12.96%. The company’s revenue for the quarter increased 29.2% year over year. In the same period a year earlier, the company posted EPS of $0.19. As a group, equity research analysts expect the Airline Services group to post earnings per share of 2.05 for the current year.

In other Air Transport Services Group news, Director Jeffrey J. Vorholt acquired 2,000 shares in a deal that took place on Friday, March 25. The shares were purchased at an average price of $32.94 per share, for a total transaction of $65,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Insiders bought 2,635 shares of the company worth $84,652 during the last quarter. 1.70% of the shares are currently held by insiders of the company.

Institutional investors and hedge funds have recently increased or reduced their stake in the company. Quantamental Technologies LLC purchased a new stake in shares of Air Transport Services Group in the first quarter for a value of approximately $233,000. Graham Capital Management LP acquired a new stake in Air Transport Services Group during Q1 valued at approximately $684,000. Invesco Ltd. strengthened its position in Air Transport Services Group by 12.1% in the 1st quarter. Invesco Ltd. now owns 754,193 shares of the transportation company valued at $25,228,000 after acquiring an additional 81,294 shares last quarter. Renaissance Technologies LLC purchased a new stake in shares of Air Transport Services Group in Q1 for a value of approximately $726,000. Finally, Charles Schwab Investment Management Inc. increased its position in Air Transport Services Group shares by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 650,928 shares of the transportation company worth $21,774,000 after buying 30,890 additional shares last quarter. Hedge funds and other institutional investors hold 93.34% of the company’s shares.

Airline Services Group Company Profile (Get a rating)

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing and air cargo transportation and related services in the United States and abroad. The Company offers aircraft, flight crew, aircraft maintenance, aircraft hull and liability and aviation fuel insurance; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and aircraft line maintenance.

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