Zacks: Analysts Forecast Air Transport Services Group, Inc. (NASDAQ:ATSG) to Post Quarterly Sales of $455.05 Million
Stock analysts predict that Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Rating) will record sales of $455.05 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for Air Transport Services Group. The highest sales estimate is $458.70 million and the lowest is $451.40 million. The airline services group recorded sales of $376.09 million in the same quarter last year, suggesting a positive year-over-year growth rate of 21%. The company is expected to release its next results after the market closes on Monday, January 1.
According to Zacks, analysts expect Air Transport Services Group to report annual sales of $1.90 billion for the current year, with estimates ranging from $1.89 billion to $1.91 billion. For the next fiscal year, analysts expect the company to post sales of $2.00 billion, with estimates ranging from $1.95 billion to $2.04 billion. Zacks Investment Research’s sales averages are an average average based on a survey of sell-side research companies that cover the airline services group.
Air Transport Services Group (NASDAQ:ATSG – Get Rating) last released its quarterly results on Thursday, February 24. The transportation company reported earnings per share of $0.52 for the quarter. Air Transport Services Group achieved a return on equity of 11.57% and a net margin of 13.34%. The company had revenue of $482.37 million in the quarter.
Several research analysts have commented on the ATSG shares. Stephens raised its price target on Air Transport Services Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a Wednesday, March 2 report. StockNews.com assumed coverage of the airline services group in a research report on Thursday, March 31. They issued a “maintaining” rating for the company. Finally, Truist Financial raised its target price on Air Transport Services Group from $35.00 to $40.00 in a Monday, February 28 research report.
Shares of ATSG opened at $31.66 on Tuesday. The company has a market capitalization of $2.35 billion, a price-earnings ratio of 11.99 and a beta of 0.52. Air Transport Services Group has a 52-week low of $21.42 and a 52-week high of $34.54. The company has a debt ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.13. The company’s fifty-day moving average is $31.41 and its 200-day moving average is $28.62.
Separately, insider Michael L. Berger sold 7,240 shares of the company 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 sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Jeffrey J. Vorholt purchased 2,000 shares of the company in a trade on Friday, March 25. The stock was 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 three months, insiders have sold 10,924 shares of the company worth $346,388. 1.70% of the shares are held by insiders.
A number of hedge funds have recently changed their positions in ATSG. EFG Asset Management North America Corp. acquired a new position in Air Transport Services Group during Q1, valued at approximately $796,000. Truist Financial Corp raised its position in shares of Air Transport Services Group by 187.3% in the first quarter. Truist Financial Corp now owns 20,620 shares of the transportation company worth $689,000 after purchasing an additional 13,443 shares during the period. Virginia Retirement Systems ET AL increased its position in Air Transport Services Group by 25.3% during the first quarter. Virginia Retirement Systems ET AL now owns 10,400 shares of the transportation company valued at $348,000 after acquiring 2,100 additional shares in the last quarter. Bernzott Capital Advisors increased its position in Air Transport Services Group by 0.4% during the first quarter. Bernzott Capital Advisors now owns 1,264,067 shares of the transportation company valued at $42,283,000 after acquiring 5,406 additional shares in the last quarter. Finally, Private Capital Management LLC increased its position in Air Transport Services Group by 5.3% during the fourth quarter. Private Capital Management LLC now owns 803,160 shares of the transportation company valued at $23,597,000 after acquiring 40,253 additional shares in the last quarter. Institutional investors and hedge funds own 93.34% of the company’s shares.
About Airline Services Group (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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