Air Transport Services Group (NASDAQ:ATSG) Price target raised to $40.00 in Cowen

Airline Services Group (NASDAQ:ATSG – Get Rating) saw its target price raised by Cowen stock research analysts from $31.00 to $40.00 in a research note released on Monday, Stock Target Advisor reports. Cowen’s price target indicates a potential upside of 31.75% from the company’s current price.

The ATSG has been the subject of several other reports. Stephens raised his price target on shares of Air Transport Services Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a Wednesday, March 2 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. StockNews.com began covering Air Transport Services Group in a research report on Thursday, March 31. They issued a “maintaining” rating for the company. Finally, Cowen raised its price target on shares of Air Transport Services Group from $31.00 to $40.00 in a report released Monday.

NASDAQ:ATSG opened at $30.36 on Monday. The stock has a fifty-day simple moving average of $31.57 and a 200-day simple moving average of $28.84. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt ratio of 0.98. The company has a market capitalization of $2.26 billion, a price-earnings ratio of 11.16 and a beta of 0.54. Air Transport Services Group has a 12-month low of $21.42 and a 12-month high of $34.54.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its results on Thursday, May 5. The transportation company reported EPS of $0.56 for the quarter, beating analyst consensus estimates of $0.40 by $0.16. Air Transport Services Group achieved a net margin of 12.96% and a return on equity of 13.71%. The company posted revenue of $485.86 million for the quarter, versus analyst estimates of $474.93 million. During the same period last year, the company posted earnings per share of $0.19. The company’s quarterly revenue increased by 29.2% compared to the same quarter last year. As a group, equity research analysts predict that Air Transport Services Group will post EPS of 1.97 for the current fiscal year.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 Air Transport Services Group shares in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $31.80, for a total value of $230,232.00. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, director Jeffrey J. Vorholt purchased 2,000 shares of the company in a transaction that took place on Friday, March 25. The shares were purchased at an average cost of $32.94 per share, with a total value of $65,880.00. Disclosure of this purchase can be found here. In the past 90 days, insiders have sold 10,924 shares of the company valued at $346,388. 1.70% of the shares are held by insiders of the company.

Several hedge funds and other institutional investors have recently changed their holdings in the company. Rinkey Investments acquired a new stake in Air Transport Services Group in Q4, valued at approximately $42,000. Zullo Investment Group Inc. purchased a new stake in shares of Air Transport Services Group during the fourth quarter at a value of approximately $88,000. The Public Employees Retirement System of Ohio raised its position in shares of Air Transport Services Group by 12.9% in the fourth quarter. The Ohio Public Employees Retirement System now owns 3,813 shares of the transportation company valued at $112,000 after buying 435 additional shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Air Transport Services Group during the fourth quarter, valued at approximately $140,000. Finally, Emerald Advisers LLC acquired a new stake in Air Transport Services Group during the fourth quarter valued at approximately $143,000. Institutional investors hold 93.34% of the company’s shares.

Airline Services Group Company Profile (Get an assessment)

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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