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

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $22.49 and last traded at $22.48, with a volume of 3781483 shares changing hands. The stock had previously closed at $22.32.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Air Transport Services Group in a research report on Sunday, April 6th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Stock Down 0.0 %

The stock’s fifty day moving average price is $22.33 and its 200 day moving average price is $20.97. The company has a current ratio of 0.81, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.48 billion, a P/E ratio of -561.86 and a beta of 0.89.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Monday, March 3rd. The transportation company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Air Transport Services Group had a positive return on equity of 3.12% and a negative net margin of 0.12%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $521.36 million. As a group, research analysts forecast that Air Transport Services Group, Inc. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Air Transport Services Group

A number of large investors have recently modified their holdings of ATSG. Rhumbline Advisers grew its position in Air Transport Services Group by 0.8% during the fourth 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 last quarter. Cetera Trust Company N.A boosted its stake in shares of Air Transport Services Group by 6.6% in the 4th quarter. Cetera Trust Company N.A now owns 11,635 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 725 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Air Transport Services Group by 3.5% during 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 purchasing an additional 982 shares during the last quarter. AlphaQuest LLC raised its position in Air Transport Services Group by 89.8% in the 4th quarter. AlphaQuest LLC now owns 2,634 shares of the transportation company’s stock worth $58,000 after purchasing an additional 1,246 shares during the period. Finally, Sterling Capital Management LLC raised its position in Air Transport Services Group by 797.3% in the 4th 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 period. 91.81% of the stock is owned by hedge funds and other institutional investors.

Air Transport Services Group Company Profile

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.