Air Transport Services Group (NASDAQ:ATSG) Stock Rating Lowered by BidaskClub

Air Transport Services Group (NASDAQ:ATSG) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday, BidAskClub reports.

ATSG has been the topic of several other research reports. Zacks Investment Research raised shares of Air Transport Services Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday. TheStreet lowered shares of Air Transport Services Group from a “b-” rating to a “c” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.80.

Air Transport Services Group stock opened at $19.61 on Thursday. The company’s 50 day simple moving average is $20.66 and its 200 day simple moving average is $22.25. Air Transport Services Group has a fifty-two week low of $17.06 and a fifty-two week high of $25.82. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.69 and a beta of 0.95. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.92 and a quick ratio of 0.78.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Air Transport Services Group had a net margin of 2.13% and a return on equity of 21.56%. The business had revenue of $334.60 million for the quarter, compared to analyst estimates of $333.05 million. During the same quarter last year, the firm earned $0.28 EPS. Air Transport Services Group’s quarterly revenue was up 64.3% compared to the same quarter last year. As a group, analysts predict that Air Transport Services Group will post 1.3 EPS for the current fiscal year.

In other Air Transport Services Group news, insider W Joseph Payne sold 3,200 shares of Air Transport Services Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $23.04, for a total value of $73,728.00. Following the transaction, the insider now owns 152,681 shares of the company’s stock, valued at $3,517,770.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Quint O. Turner sold 2,250 shares of Air Transport Services Group stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $24.25, for a total transaction of $54,562.50. Following the completion of the transaction, the chief financial officer now directly owns 242,823 shares in the company, valued at approximately $5,888,457.75. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 13,400 shares of company stock worth $269,516 and sold 9,750 shares worth $227,234. Insiders own 2.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ATSG. Financial Gravity Wealth Inc. lifted its stake in Air Transport Services Group by 294.1% in the second quarter. Financial Gravity Wealth Inc. now owns 1,608 shares of the transportation company’s stock valued at $39,000 after buying an additional 1,200 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Air Transport Services Group in the second quarter valued at approximately $56,000. Aperio Group LLC bought a new position in Air Transport Services Group in the second quarter valued at approximately $134,000. US Bancorp DE raised its holdings in shares of Air Transport Services Group by 47.6% in the second quarter. US Bancorp DE now owns 6,188 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Air Transport Services Group in the second quarter valued at approximately $211,000. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

Air Transport Services Group Company Profile

Air Transport Services Group, Inc, through its subsidiaries, operates in the airfreight and logistics industry. The company owns and leases cargo aircraft to airlines and other customers. It also provides airline operations to delivery companies, airlines, freight forwarders, and the U.S. Military, as well as operates charter agreements.

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