Air Transport Services Group, Inc (ATSG) Earns “Outperform” Rating from Cowen and Company

Air Transport Services Group, Inc (NASDAQ:ATSG)‘s stock had its “outperform” rating restated by analysts at Cowen and Company in a report released on Thursday. They currently have a $27.00 target price on the transportation company’s stock, up from their previous target price of $25.00. Cowen and Company’s price target suggests a potential upside of 14.98% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Air Transport Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday. TheStreet cut Air Transport Services Group from a “b+” rating to a “c+” rating in a research note on Monday. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price target on shares of Air Transport Services Group in a research note on Friday, August 4th. BidaskClub upgraded Air Transport Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Imperial Capital increased their price target on Air Transport Services Group from $18.00 to $23.00 and gave the company an “in-line” rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $23.29.

Shares of Air Transport Services Group (NASDAQ:ATSG) opened at 23.48 on Thursday. The stock has a 50 day moving average price of $23.13 and a 200 day moving average price of $19.63. The firm has a market capitalization of $1.40 billion, a PE ratio of 63.80 and a beta of 2.01. Air Transport Services Group has a 1-year low of $12.94 and a 1-year high of $25.62.

Air Transport Services Group (NASDAQ:ATSG) last announced its quarterly earnings results on Monday, August 7th. The transportation company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Air Transport Services Group had a positive return on equity of 13.71% and a negative net margin of 4.42%. The company had revenue of $253.21 million during the quarter, compared to analysts’ expectations of $235.69 million. During the same period in the prior year, the company earned $0.13 EPS. Air Transport Services Group’s revenue was up 43.4% compared to the same quarter last year. Equities research analysts anticipate that Air Transport Services Group will post $0.92 earnings per share for the current fiscal year.

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In related news, insider Richard Francis Corrado sold 20,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $23.05, for a total transaction of $461,000.00. Following the completion of the transaction, the insider now directly owns 112,839 shares of the company’s stock, valued at approximately $2,600,938.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Matthew E. Fedders sold 4,102 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $22.24, for a total value of $91,228.48. Following the transaction, the vice president now directly owns 24,842 shares of the company’s stock, valued at $552,486.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,414,480 shares of company stock valued at $99,000,315. 2.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Air Transport Services Group by 87.5% in the first quarter. Envestnet Asset Management Inc. now owns 11,136 shares of the transportation company’s stock valued at $180,000 after buying an additional 5,196 shares in the last quarter. Oxford Asset Management bought a new position in shares of Air Transport Services Group during the first quarter valued at about $1,507,000. Parkwood LLC bought a new position in shares of Air Transport Services Group during the first quarter valued at about $1,011,000. Sei Investments Co. raised its position in shares of Air Transport Services Group by 15.0% in the first quarter. Sei Investments Co. now owns 91,250 shares of the transportation company’s stock valued at $1,464,000 after buying an additional 11,912 shares in the last quarter. Finally, Intrust Bank NA bought a new position in shares of Air Transport Services Group during the first quarter valued at about $233,000. 87.64% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations.

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

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