Brokerages Set Air Transport Services Group Inc. (ATSG) PT at $27.00

Air Transport Services Group Inc. (NASDAQ:ATSG) has received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $27.00.

ATSG has been the topic of a number of research analyst reports. BidaskClub upgraded Air Transport Services Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Cowen lifted their target price on Air Transport Services Group from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Imperial Capital reiterated an “in-line” rating and issued a $26.00 target price (up previously from $23.00) on shares of Air Transport Services Group in a report on Thursday, March 1st. ValuEngine raised Air Transport Services Group from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, TheStreet raised Air Transport Services Group from a “c” rating to a “b” rating in a research report on Wednesday, February 28th.

In other news, CFO Quint O. Turner sold 3,500 shares of Air Transport Services Group stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $22.64, for a total transaction of $79,240.00. Following the sale, the chief financial officer now directly owns 243,874 shares of the company’s stock, valued at $5,521,307.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider W Joseph Payne sold 12,500 shares of Air Transport Services Group stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $22.51, for a total value of $281,375.00. Following the sale, the insider now directly owns 159,619 shares in the company, valued at $3,593,023.69. The disclosure for this sale can be found here. Insiders sold 16,600 shares of company stock worth $374,133 over the last three months. 2.10% of the stock is currently owned by corporate insiders.



Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Air Transport Services Group by 1.2% during the first quarter. BlackRock Inc. now owns 3,370,899 shares of the transportation company’s stock worth $78,609,000 after acquiring an additional 39,360 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Air Transport Services Group by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,271 shares of the transportation company’s stock worth $56,051,000 after acquiring an additional 241,320 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Air Transport Services Group by 2,229.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,989,992 shares of the transportation company’s stock worth $46,048,000 after acquiring an additional 1,904,566 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Air Transport Services Group by 8.3% during the first quarter. Nuveen Asset Management LLC now owns 1,035,879 shares of the transportation company’s stock worth $24,157,000 after acquiring an additional 79,281 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Air Transport Services Group by 2.8% during the fourth quarter. Hodges Capital Management Inc. now owns 934,000 shares of the transportation company’s stock worth $21,613,000 after acquiring an additional 25,385 shares during the last quarter. 88.72% of the stock is currently owned by institutional investors and hedge funds.

Air Transport Services Group stock traded up $0.46 during midday trading on Monday, reaching $23.65. The stock had a trading volume of 351,044 shares, compared to its average volume of 520,016. Air Transport Services Group has a twelve month low of $19.17 and a twelve month high of $27.67. The stock has a market capitalization of $1.37 billion, a P/E ratio of 26.28 and a beta of 1.85. The company has a current ratio of 1.12, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26.

Air Transport Services Group (NASDAQ:ATSG) last issued its earnings results on Tuesday, May 8th. The transportation company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.13. Air Transport Services Group had a return on equity of 21.26% and a net margin of 2.36%. The firm had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $244.15 million. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. sell-side analysts predict that Air Transport Services Group will post 1.3 EPS for the current year.

Air Transport Services Group declared that its board has approved a stock repurchase plan on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

Analyst Recommendations for Air Transport Services Group (NASDAQ:ATSG)

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