Zacks Investment Research Upgrades Atlas Air Worldwide (NASDAQ:AAWW) to “Hold”

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Atlas Air Worldwide (NASDAQ:AAWW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

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 equities research analysts also recently issued reports on AAWW. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. Imperial Capital reaffirmed an “in-line” rating and set a $29.00 price target (down previously from $33.00) on shares of Whiting Petroleum in a research note on Friday, May 3rd. Finally, BidaskClub raised shares of ZIOPHARM Oncology from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.67.

Atlas Air Worldwide stock opened at $42.74 on Friday. Atlas Air Worldwide has a 12-month low of $35.04 and a 12-month high of $69.80. The stock has a market cap of $1.10 billion, a P/E ratio of 5.78 and a beta of 2.05. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.59 and a quick ratio of 0.59. The business’s fifty day moving average price is $41.12.

Atlas Air Worldwide (NASDAQ:AAWW) last released its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.12. Atlas Air Worldwide had a net margin of 8.36% and a return on equity of 10.76%. The firm had revenue of $679.70 million for the quarter, compared to the consensus estimate of $679.72 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Atlas Air Worldwide will post 7.47 earnings per share for the current year.

In other news, CFO Spencer Schwartz sold 6,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $44.08, for a total value of $286,520.00. Following the completion of the sale, the chief financial officer now owns 54,741 shares of the company’s stock, valued at approximately $2,412,983.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John K. Wulff bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $39.75 per share, with a total value of $198,750.00. Following the transaction, the director now directly owns 24,979 shares in the company, valued at approximately $992,915.25. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAWW. Quantamental Technologies LLC boosted its stake in Atlas Air Worldwide by 343.3% during the 1st quarter. Quantamental Technologies LLC now owns 4,003 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 3,100 shares during the period. 6 Meridian acquired a new position in Atlas Air Worldwide during the 1st quarter valued at about $213,000. Investors Research Corp boosted its stake in Atlas Air Worldwide by 4.8% during the 2nd quarter. Investors Research Corp now owns 5,450 shares of the transportation company’s stock valued at $243,000 after purchasing an additional 250 shares during the period. Laurion Capital Management LP boosted its stake in Atlas Air Worldwide by 7.3% during the 1st quarter. Laurion Capital Management LP now owns 5,655 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 384 shares during the period. Finally, Sciencast Management LP acquired a new position in Atlas Air Worldwide during the 1st quarter valued at about $287,000.

About Atlas Air Worldwide

Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through three segments: ACMI, Charter, and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.

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