Air Transport Services Group, Inc. (NASDAQ:ATSG – Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,510,000 shares, a decrease of 9.8% from the August 15th total of 5,000,000 shares. Approximately 8.0% of the shares of the company are short sold. Based on an average daily trading volume, of 783,400 shares, the days-to-cover ratio is presently 5.8 days.
Wall Street Analysts Forecast Growth
ATSG has been the subject of a number of recent analyst reports. Susquehanna lifted their price objective on shares of Air Transport Services Group from $18.00 to $26.00 and gave the company a “positive” rating in a report on Wednesday, August 9th. Loop Capital increased their price target on Air Transport Services Group from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, August 18th. TD Cowen boosted their price objective on Air Transport Services Group from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. StockNews.com began coverage on Air Transport Services Group in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Truist Financial boosted their price target on shares of Air Transport Services Group from $17.00 to $21.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.
Insider Transactions at Air Transport Services Group
Institutional Investors Weigh In On Air Transport Services Group
Institutional investors and hedge funds have recently modified their holdings of the company. Virginia Retirement Systems ET AL purchased a new stake in Air Transport Services Group during the second quarter worth about $632,000. Wells Fargo & Company MN boosted its position in Air Transport Services Group by 230.5% in the 2nd quarter. Wells Fargo & Company MN now owns 188,273 shares of the transportation company’s stock valued at $3,553,000 after buying an additional 131,310 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Air Transport Services Group by 55.2% in the second quarter. Goldman Sachs Group Inc. now owns 549,543 shares of the transportation company’s stock worth $10,370,000 after acquiring an additional 195,358 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Air Transport Services Group by 677.2% during the second quarter. Captrust Financial Advisors now owns 55,936 shares of the transportation company’s stock worth $1,056,000 after acquiring an additional 48,739 shares during the period. Finally, Private Capital Management LLC raised its stake in shares of Air Transport Services Group by 23.4% in the second quarter. Private Capital Management LLC now owns 1,191,893 shares of the transportation company’s stock valued at $22,491,000 after acquiring an additional 225,988 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.
Air Transport Services Group Trading Down 1.1 %
ATSG stock traded down $0.23 during midday trading on Tuesday, hitting $20.96. 56,573 shares of the company’s stock were exchanged, compared to its average volume of 632,752. Air Transport Services Group has a 1-year low of $14.39 and a 1-year high of $29.55. The business has a 50-day simple moving average of $21.01 and a two-hundred day simple moving average of $19.81. The stock has a market capitalization of $1.48 billion, a PE ratio of 11.64 and a beta of 0.81. The company has a current ratio of 0.89, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05.
Air Transport Services Group (NASDAQ:ATSG – Get Free Report) last posted its earnings results on Friday, August 4th. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The company had revenue of $529.34 million for the quarter, compared to analysts’ expectations of $514.56 million. Air Transport Services Group had a net margin of 7.30% and a return on equity of 12.10%. Air Transport Services Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, sell-side analysts predict that Air Transport Services Group will post 1.82 EPS for the current fiscal year.
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.
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