Air Transport Services Group (NASDAQ:ATSG) Price Target Lowered to $14.00 at Truist Financial

Air Transport Services Group (NASDAQ:ATSG) had its price objective reduced by Truist Financial from $20.00 to $14.00 in a report released on Friday morning, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other research firms have also recently issued reports on ATSG. StockNews.com cut shares of Air Transport Services Group from a hold rating to a sell rating in a research note on Tuesday, March 26th. Susquehanna decreased their target price on shares of Air Transport Services Group from $15.00 to $14.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $23.33.

Air Transport Services Group Stock Performance

Shares of NASDAQ ATSG opened at $12.64 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 1.25. The company has a 50 day simple moving average of $13.11 and a two-hundred day simple moving average of $15.74. Air Transport Services Group has a 12 month low of $11.62 and a 12 month high of $24.96. The stock has a market cap of $830.25 million, a price-to-earnings ratio of 16.85 and a beta of 0.85.

Air Transport Services Group (NASDAQ:ATSG) last posted its earnings results on Monday, February 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.11). Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. The firm had revenue of $517.04 million during the quarter, compared to analyst estimates of $521.04 million. As a group, analysts predict that Air Transport Services Group will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Air Transport Services Group

A number of large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Air Transport Services Group by 53.9% in the fourth quarter. CWM LLC now owns 2,191 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 767 shares during the period. Credit Suisse AG grew its holdings in shares of Air Transport Services Group by 7.1% in the third quarter. Credit Suisse AG now owns 12,133 shares of the transportation company’s stock valued at $292,000 after purchasing an additional 803 shares during the period. Quarry LP grew its holdings in shares of Air Transport Services Group by 165.9% in the second quarter. Quarry LP now owns 1,433 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 894 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Air Transport Services Group by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 43,567 shares of the transportation company’s stock valued at $767,000 after purchasing an additional 960 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Air Transport Services Group by 141.2% in the first quarter. Tower Research Capital LLC TRC now owns 1,674 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors 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.