Air Transport Services Group (NASDAQ:ATSG) Shares Earnings Spread Above Expectations
Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) stock price rose ahead of Friday’s trading after a stronger-than-expected earnings report. The stock had previously closed at $31.07, but opened at $32.58. Shares of Air Transport Services Group last traded at $30.08, with a volume of 1,399 shares traded. The transportation company reported earnings per share of $0.56 for the quarter, beating the consensus estimate of $0.40 by $0.16. Air Transport Services Group achieved a return on equity of 11.57% and a net margin of 13.34%. The company posted revenue of $485.86 million in the quarter, compared to $474.93 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.19. The company’s revenue increased by 29.2% compared to the same quarter last year.
Several equity research analysts have weighed in on the company recently. 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. Truist Financial raised its price target on Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 research report. Finally, StockNews.com launched coverage on Air Transport Services Group in a research note on Thursday, March 31. They issued a “hold” rating on the stock.
In other Air Transport Services Group news, Director Jeffrey J. Vorholt purchased 2,000 shares of Air Transport Services Group in a transaction that took place on Friday, March 25. The shares were acquired at an average price of $32.94 per share, for a total transaction of $65,880.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. Additionally, insider Michael L. Berger sold 7,240 shares of Air Transport Services Group in a trade that took place on Wednesday, March 16. The shares were 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. During the last quarter, insiders sold 10,924 shares of the company valued at $346,388. Company insiders own 1.70% of the company’s shares.
A number of institutional investors and hedge funds have recently changed their positions in the company. The Public Employees Retirement System of Ohio increased its stake in shares of Air Transport Services Group by 12.9% during the fourth quarter. The Ohio Public Employees Retirement System now owns 3,813 shares of the transportation company worth $112,000 after buying 435 additional shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Air Transport Services Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 47,789 shares of the transportation company worth $1,404,000 after buying 742 additional shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Air Transport Services Group by 4.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 17,135 shares of the transportation company worth $503,000 after buying 771 additional shares in the last quarter. We Are One Seven LLC increased its stake in Air Transport Services Group by 3.6% in the fourth quarter. We Are One Seven LLC now owns 22,038 shares of the transportation company valued at $647,000 after purchasing an additional 774 shares during the period. Finally, Phocas Financial Corp. increased its stake in Air Transport Services Group by 0.5% in the third quarter. Phocas Financial Corp. now owns 197,221 shares of the transportation company valued at $5,090,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds hold 93.34% of the company’s shares.
The company has a debt ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.97. The stock has a market capitalization of $2.23 billion, a price-earnings ratio of 11.77 and a beta of 0.54. The company’s fifty-day moving average price is $31.59 and its two-hundred-day moving average price is $28.76.
Airline Services Group Company Profile (NASDAQ:ATSG)
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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