Truist Financial launches coverage on airline services group (NASDAQ:ATSG)

Truist Financial has started covering the shares of Air Transport Services Group (NASDAQ:ATSG – Get a Rating) in a research note published on Friday, reports The Fly. The company has set a “holding” rating and a price target of $26.00 on the shares of the transportation company. Truist Financial’s price target indicates a potential decline of 9.50% from the current stock price.

Separately, picked up coverage of the airline services group in a research report on Wednesday, October 12. They set a “hold” rating for the company.

Airline Services Group Price Performance

Shares of ATSG opened at $28.73 on Friday. Air Transport Services Group has a 52-week low of $23.32 and a 52-week high of $34.54. The company has a debt ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.19. The company has a market capitalization of $2.14 billion, a P/E ratio of 11.05 and a beta of 0.65. The stock has a 50-day moving average price of $28.10 and a 200-day moving average price of $29.49.

Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its results on Thursday, August 4. The transportation company reported earnings per share of $0.59 for the quarter, beating consensus analyst estimates of $0.51 by $0.08. The company posted revenue of $510.00 million in the quarter, versus analyst estimates of $505.54 million. Air Transport Services Group achieved a return on equity of 14.39% and a net margin of 11.01%. Airline Services Group revenue increased 24.4% year-over-year. During the same period a year earlier, the company posted EPS of $0.35. As a group, sell-side analysts expect Air Transport Services Group to post earnings per share of 2.2 for the current year.

Insider buying and selling

Separately, major shareholder Amazon Com Inc sold 250,000 shares of the company in a transaction on Friday, October 7. The stock was sold at an average price of $23.61, for a total transaction of $5,902,500.00. Following the transaction, the insider now directly owns 14,178,445 shares of the company, valued at approximately $334,753,086.45. The sale was disclosed in a document filed with the SEC, accessible via this link. 1.70% of the shares are held by insiders of the company.

Institutional Air Transport Services Trading Group

Major investors have recently increased or reduced their stake in the company. TCW Group Inc. increased its stake in Air Transport Services Group by 7.8% during the second quarter. TCW Group Inc. now owns 502,004 shares of the transportation company valued at $14,422,000 after purchasing an additional 36,124 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Air Transport Services Group during Q1 worth approximately $1,520,000. RK Capital Management LLC acquired a new position in shares of Air Transport Services Group in Q1 worth approximately $3,345,000. Homestead Advisers Corp increased its equity stake in Air Transport Services Group by 25.2% in the second quarter. Homestead Advisers Corp now owns 1,988 shares of the transportation company valued at $57,000 after buying an additional 400 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in shares of Air Transport Services Group by 4.6% in the 1st quarter. 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 during the period. Hedge funds and other institutional investors own 95.84% 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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