Atlas Air Worldwide Holdings (NASDAQ:AAWW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air and Polar Air Cargo, which together operate the world’s largest fleet of Boeing freighter aircraft. AAWW is principally involved in the airport-to-airport air transportation of heavy freight cargo through its two operating subsidiary airlines, Atlas Air, Inc. and Polar Air Cargo, IncAAWW, through its principal subsidiaries Atlas and Polar, offers scheduled air cargo service, cargo charters, military charters, and ACMI aircraft leasing in which customers receive a dedicated aircraft, crew, maintenance and insurance on a long-term lease basis. “
Several other brokerages also recently weighed in on AAWW. Royal Bank Of Canada cut their target price on shares of Atlas Air Worldwide Holdings from $49.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, August 4th. Stifel Nicolaus initiated coverage on shares of Atlas Air Worldwide Holdings in a research note on Thursday, August 25th. They issued a “buy” rating and a $49.00 target price for the company. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $44.00 target price (down previously from $49.00) on shares of Atlas Air Worldwide Holdings in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.60.
Atlas Air Worldwide Holdings (NASDAQ:AAWW) traded up 3.17% on Wednesday, hitting $43.30. 169,654 shares of the stock traded hands. Atlas Air Worldwide Holdings has a 12-month low of $31.99 and a 12-month high of $57.77. The firm’s 50-day moving average price is $38.27 and its 200-day moving average price is $40.83. The stock’s market cap is $1.08 billion.
Atlas Air Worldwide Holdings (NASDAQ:AAWW) last announced its earnings results on Wednesday, August 3rd. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by $0.13. Atlas Air Worldwide Holdings had a negative net margin of 1.64% and a positive return on equity of 6.67%. The firm earned $443.30 million during the quarter, compared to analyst estimates of $473.86 million. During the same period in the previous year, the firm posted $1.17 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Atlas Air Worldwide Holdings will post $4.46 EPS for the current fiscal year.
In other news, Director John K. Wulff bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average price of $35.01 per share, for a total transaction of $350,100.00. Following the acquisition, the director now owns 17,850 shares of the company’s stock, valued at $624,928.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John K. Wulff bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $35.90 per share, with a total value of $179,500.00. Following the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $897,500. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Atlas Air Worldwide Holdings by 1.6% in the second quarter. Vanguard Group Inc. now owns 1,975,306 shares of the company’s stock worth $81,817,000 after buying an additional 31,103 shares in the last quarter. BlackRock Fund Advisors boosted its position in Atlas Air Worldwide Holdings by 3.4% in the second quarter. BlackRock Fund Advisors now owns 1,602,648 shares of the company’s stock worth $66,382,000 after buying an additional 52,069 shares in the last quarter. Fisher Asset Management LLC boosted its position in Atlas Air Worldwide Holdings by 0.3% in the second quarter. Fisher Asset Management LLC now owns 1,205,124 shares of the company’s stock worth $50,001,000 after buying an additional 3,386 shares in the last quarter. Snow Capital Management LP boosted its position in Atlas Air Worldwide Holdings by 10.5% in the second quarter. Snow Capital Management LP now owns 1,107,685 shares of the company’s stock worth $45,880,000 after buying an additional 105,136 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Atlas Air Worldwide Holdings by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 875,266 shares of the company’s stock worth $36,998,000 after buying an additional 36,709 shares in the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.
About Atlas Air Worldwide Holdings
Atlas Air Worldwide Holdings, Inc, (AAWW) is a holding company with a principal operating subsidiary, Atlas Air, Inc (Atlas). The Company is a provider of outsourced aircraft and aviation operating services, operating a fleet of 750 freighters, as well as operating 747 and 767 passenger aircraft and 767 freighters.
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