Truist Financial Launches Airline Services Group Coverage (NASDAQ:ATSG)
Friday’s release of a research note by Truist Financial included an announcement that the company would monitor shares of Air Transport Services Group (NASDAQ:ATSG). The transportation provider’s stock was given a “Hold” rating by the company, and the company has set a price target of $26.00 for the stock. Based on the price target set by Truist Financial, the stock price will fall 9.50% from its current price.
Separately, a research report covering Air Transport Services Group was published by StockNews.com on October 12. This date also marked the day the website began covering the company. They advised shareholders to “hold” their company’s stock.
When trading began on Friday, the price of an individual ATSG share was $28.73. Air Transport Services Group saw a 52-week low of $23.32, while the company hit a high of $34.54 in the same period. The debt ratio is 0.96, the quick ratio 1.02, the current ratio 1.19 and the general liquidity ratio 0.96. The company’s market capitalization is estimated at $2.14 billion, while its price-earnings ratio is 11.05 and its beta is 0.65. Over the past 50 days, the stock price has averaged $28.10; in the last 200 days it has reached $29.49.
In a report made publicly available on August 4, 2018, Air Transport Services Group, Inc. (NASDAQ:ATSG) discussed its performance. The transportation company reported earnings of $0.59 per share for the quarter, $0.08 higher than the consensus estimate of $0.51 per share among industry analysts. These figures are presented in US dollars. According to analysts’ projections, the revenue generated during the quarter could be between $505.54 million and $510.00 million. Thanks to the strong performance of the Airline Services group, the company achieved a return on equity of 14.39% and a net margin of 11.01%. The Airline Services group recorded a 24.4% increase in revenue over the prior year. The company reported earnings per share of $0.35 for the same period in the prior year’s financial statements. Sell-side analysts believe Air Transport Services Group will earn 2.2 cents a share this year.
On Friday, October 7, Amazon.com, Inc., a major shareholder, sold 250,000 shares of the company, another development on this topic that took place that day. The total amount received for the sale of the shares was $5,902,500.00. This equates to an average price of $23.61 per share for each share purchased. After completion of the transaction, the corporate insider now has a total of 14,178,445 shares in his possession, which have a combined value of approximately $334,753,086.45. If you click on this link, you will be redirected to the SEC file, where the details of the transaction are described in more detail. The people who work for the company own 1.70% of the company’s total shares.
As a result of recent events, major investors have either changed or reduced their percentage ownership in the company. TCW Group Inc. increased the proportion of Air Transport Services Group shares it held by 7.8 percentage points during the second quarter. After purchasing an additional 36,124 shares in the last fiscal quarter, TCW Group Inc. now owns 502,004 shares of the transportation company, which are currently valued at $14,422,000. During the same period, the company also acquired an additional 36,124 shares. Qube Research and Technologies Ltd. made a new investment in the Airline Services Group for $1,520,000 in the first three months of 2018. RK Capital Management LLC increased its stake in the Airline Services Group in the first quarter by buying a new position valued at approximately $3,345,000. This move allowed the company to expand its stake in the business. During the second quarter, Homestead Advisers Corporation achieved a 25.2% increase in the proportion of Airline Services Group shares it held. Homestead Advisers Corp now owns 1,988 shares of the transportation company, currently valued at $57,000. This results from the company purchasing an additional 400 shares during the period in question.
Last but not least, in the first three months of 2018, SummerHaven Investment Management LLC added an additional 4.6% of shares of Air Transport Services Group to its holdings, bringing the total percentage of shares in this company to 98.4%. . SummerHaven Investment Management LLC now owns 37,935 shares of the transportation company, valued at $1,269,000 after purchasing an additional 1,665 shares in the most recent period. This brings the total number of shares held by the portfolio management company to 37,935. The vast majority, or 95.84%, of the company’s total number of shares is held by institutional investors and hedge funds. .
Air Transport Services Group, Inc. and its subsidiaries in the United States of America and other countries around the world provide aircraft leasing, air cargo transportation and other aviation-related services. In addition to fuel services for the aviation industry, various aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services and line maintenance of aircraft, are provided. We also offer aircraft, flight crew, maintenance, aviation fuel and insurance for aircraft hulls and liabilities in addition to these services.