Air Transport Services Group (NASDAQ:ATSG) Hits New 1-Year High – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares reached a new 52-week high during trading on Monday . The stock traded as high as $22.33 and last traded at $22.27, with a volume of 1075541 shares. The stock had previously closed at $21.98.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ATSG. Truist Financial boosted their target price on Air Transport Services Group from $15.00 to $22.50 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. StockNews.com began coverage on Air Transport Services Group in a research note on Saturday. They set a “hold” rating for the company. Finally, Loop Capital reissued a “hold” rating and set a $22.50 target price (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Transport Services Group presently has an average rating of “Hold” and a consensus price target of $20.60.

Air Transport Services Group Stock Performance

The company has a 50-day moving average price of $19.32 and a 200-day moving average price of $16.31. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -548.11 and a beta of 0.85. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Friday, November 8th. The transportation company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, research analysts forecast that Air Transport Services Group, Inc. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. River Road Asset Management LLC lifted its holdings in shares of Air Transport Services Group by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 7,170,189 shares of the transportation company’s stock valued at $116,085,000 after purchasing an additional 201,722 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Air Transport Services Group by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,964,670 shares of the transportation company’s stock valued at $41,120,000 after purchasing an additional 380,958 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Air Transport Services Group by 14.8% in the 2nd quarter. American Century Companies Inc. now owns 1,864,063 shares of the transportation company’s stock valued at $25,855,000 after purchasing an additional 239,919 shares during the last quarter. State Street Corp lifted its holdings in shares of Air Transport Services Group by 1.1% in the 3rd quarter. State Street Corp now owns 1,258,673 shares of the transportation company’s stock valued at $20,378,000 after purchasing an additional 13,880 shares during the last quarter. Finally, Anchor Capital Management Company LLC lifted its holdings in shares of Air Transport Services Group by 26.4% in the 2nd quarter. Anchor Capital Management Company LLC now owns 1,119,942 shares of the transportation company’s stock valued at $15,534,000 after purchasing an additional 233,789 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

About Air Transport Services Group

Air Transport Services Group, Inc, together with its subsidiaries, provides aircraft leasing, and air cargo transportation and related services in the United States and internationally. It operates in two segments, Cargo Aircraft Management Inc (CAM) and ACMI Services. The company offers aircraft, flight crews, aircraft hull and liability insurance, and aviation fuel services; and aircraft maintenance and modification services, including airframe modification and heavy maintenance, component repairs, engineering services, and aircraft line maintenance.