Air Transport Services Group (NASDAQ:ATSG) Reaches New 52-Week High – Time to Buy?

Air Transport Services Group, Inc. (NASDAQ:ATSG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.34 and last traded at $22.33, with a volume of 2723436 shares. The stock had previously closed at $22.24.

Analysts Set New Price Targets

ATSG has been the subject of several analyst reports. Truist Financial raised their target price on shares of Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of Air Transport Services Group in a research report on Monday. They issued a “hold” rating for the company. Finally, Loop Capital restated a “hold” rating and set a $22.50 price objective (up from $22.00) on shares of Air Transport Services Group in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Air Transport Services Group presently has a consensus rating of “Hold” and an average target price of $20.60.

Air Transport Services Group Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $22.10 and its 200 day moving average is $19.19. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -557.36 and a beta of 0.84.

Institutional Investors Weigh In On Air Transport Services Group

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Air Transport Services Group by 0.8% during the 4th quarter. Rhumbline Advisers now owns 83,623 shares of the transportation company’s stock valued at $1,838,000 after acquiring an additional 686 shares during the period. Cetera Trust Company N.A grew its stake in Air Transport Services Group by 6.6% during the fourth quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock worth $256,000 after buying an additional 725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Air Transport Services Group by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,127 shares of the transportation company’s stock valued at $640,000 after buying an additional 982 shares in the last quarter. AlphaQuest LLC increased its stake in Air Transport Services Group by 89.8% in the fourth quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 1,246 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Air Transport Services Group by 797.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,642 shares of the transportation company’s stock worth $36,000 after purchasing an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

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.