Air Transport Services Group (ATSG) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Air Transport Services Group (NASDAQ:ATSG) from a buy rating to a hold rating in a report released on Wednesday morning.

According to Zacks, “AIR TRANSPORT SERVICES GROUP, INC. is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG subsidiaries include ABX Air, Inc., Air Transport International, LLC, Cargo Aircraft Management, Inc., Capital Cargo International Airlines, Inc., and LGSTX Services, Inc. “

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $24.00 target price (down previously from $26.00) on shares of Air Transport Services Group in a report on Wednesday, August 8th. Susquehanna Bancshares set a $23.00 target price on shares of Air Transport Services Group and gave the company a hold rating in a report on Wednesday, August 8th. ValuEngine raised shares of Air Transport Services Group from a sell rating to a hold rating in a report on Wednesday, October 3rd. BidaskClub raised shares of Air Transport Services Group from a sell rating to a hold rating in a report on Thursday, September 13th. Finally, Imperial Capital reduced their target price on shares of Air Transport Services Group from $24.00 to $22.00 and set an inline rating on the stock in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Air Transport Services Group presently has an average rating of Hold and a consensus target price of $26.50.

ATSG stock opened at $20.28 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.91 and a current ratio of 1.06. Air Transport Services Group has a 52 week low of $19.17 and a 52 week high of $27.67. The firm has a market cap of $1.21 billion, a P/E ratio of 22.53 and a beta of 1.81.

Air Transport Services Group (NASDAQ:ATSG) last released its earnings results on Monday, August 6th. The transportation company reported $0.28 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Air Transport Services Group had a net margin of 10.44% and a return on equity of 20.53%. The company had revenue of $203.61 million for the quarter, compared to analyst estimates of $208.24 million. During the same quarter last year, the firm earned $0.21 EPS. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. Research analysts expect that Air Transport Services Group will post 1.33 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Air Transport Services Group by 12.3% during the 2nd quarter. BlackRock Inc. now owns 3,784,017 shares of the transportation company’s stock valued at $85,481,000 after purchasing an additional 413,118 shares in the last quarter. SG Capital Management LLC purchased a new position in Air Transport Services Group during the 2nd quarter valued at about $7,701,000. Millennium Management LLC lifted its position in Air Transport Services Group by 299.4% during the 1st quarter. Millennium Management LLC now owns 449,870 shares of the transportation company’s stock valued at $10,491,000 after acquiring an additional 337,224 shares during the period. Private Capital Management LLC lifted its position in Air Transport Services Group by 26.9% during the 2nd quarter. Private Capital Management LLC now owns 1,215,399 shares of the transportation company’s stock valued at $27,456,000 after acquiring an additional 257,940 shares during the period. Finally, Emerald Advisers Inc. PA lifted its position in Air Transport Services Group by 38.4% during the 2nd quarter. Emerald Advisers Inc. PA now owns 737,670 shares of the transportation company’s stock valued at $16,664,000 after acquiring an additional 204,647 shares during the period. 88.26% of the stock is currently owned by institutional investors and hedge funds.

About Air Transport Services Group

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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