Air Transport Services Group (NASDAQ:ATSG) Reports Quarterly Results, Beating Expectations of $0.07 EPS

Air Transport Services Group (NASDAQ:ATSG – Get Rating) released its results on Thursday. The transportation company reported EPS of $0.60 for the quarter, beating the consensus estimate of $0.53 by $0.07, reports. Air Transport Services Group achieved a return on equity of 14.39% and a net margin of 11.01%. The company posted revenue of $516.92 million for the quarter, versus a consensus estimate of $521.37 million. In the same quarter of the previous year, the company had earned earnings per share of $0.60. The company’s revenue for the quarter increased 10.9% year over year.

Airline Services Group inventory up 3.2%

Shares of the NASDAQ ATSG traded at $0.88 during Friday’s midday session, hitting $28.49. 2,950 shares of the company have traded, compared to its average volume of 372,033. The company has a leverage ratio of 0.96, a current ratio of 1.19 and a quick ratio of 1.02. The company has a 50-day simple moving average of $27.45 and a 200-day simple moving average of $29.35. Air Transport Services Group has a 1-year low of $23.32 and a 1-year high of $34.54. The stock has a market capitalization of $2.12 billion, a P/E ratio of 11.06 and a beta of 0.72.

A Wall Street analyst gives his opinion

Several research companies have recently published reports on ATSG. began covering shares of Air Transport Services Group in a research report on Wednesday, October 12. They have set a “holding” rating on the stock. Truist Financial assumed coverage for shares of Air Transport Services Group in a Friday, October 21 research note. They issued a “hold” rating and a price target of $26.00 for the company.

Insider activity at Air Transport Services Group

In other Air Transport Services Group news, major shareholder Amazon Com Inc sold 250,000 Air Transport Services Group shares in a trade dated Friday, October 7. The shares were sold at an average price of $23.61, for a total value of $5,902,500.00. Following the sale, the insider now owns 14,178,445 shares of the company, valued at $334,753,086.45. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. 1.70% of the shares are held by insiders.

Hedge funds weigh on airline services group

A number of hedge funds and other institutional investors have recently bought and sold shares of ATSG. Raymond James Trust NA purchased a new position in the airline services group in Q1 valued at approximately $216,000. Quantamental Technologies LLC bought a new position in Air Transport Services Group in Q1 worth approximately $233,000. APG Asset Management NV bought a new position in Air Transport Services Group in the 1st quarter for a value of approximately $385,000. PNC Financial Services Group Inc. increased its stake in Air Transport Services Group by 714.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,706 shares of the transportation company worth $391,000 after buying an additional 10,268 shares last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Air Transport Services Group shares by 122.1% in the second quarter. UBS Asset Management Americas Inc. now owns 16,640 shares of the transportation company valued at $478,000 after buying 9,147 additional shares last quarter. Hedge funds and other institutional investors own 95.84% of the company’s shares.

Airline Services Group Company Profile

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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.

See also

Earnings History for Air Transport Services Group (NASDAQ:ATSG)

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