Air Transport Services Group (NASDAQ:ATSG) Sees Strong Trading Volume – Here’s Why

Air Transport Services Group, Inc. (NASDAQ:ATSG) shares saw strong trading volume on Monday . 1,172,004 shares were traded during trading, an increase of 83% from the previous session’s volume of 639,554 shares.The stock last traded at $21.97 and had previously closed at $22.02.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ATSG. Loop Capital restated a “hold” rating and issued a $22.50 price objective (up previously from $22.00) on shares of Air Transport Services Group in a report on Tuesday, November 5th. StockNews.com started coverage on Air Transport Services Group in a research report on Wednesday, November 13th. They issued a “hold” rating on the stock. Stifel Nicolaus increased their price objective on Air Transport Services Group from $23.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial increased their target price on Air Transport Services Group from $15.00 to $22.50 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.60.

Air Transport Services Group Price Performance

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 0.81. The stock has a 50-day simple moving average of $17.35 and a 200 day simple moving average of $15.49. The company has a market cap of $1.45 billion, a P/E ratio of -549.11 and a beta of 0.81.

Air Transport Services Group (NASDAQ:ATSG) last released its quarterly earnings results on Friday, November 8th. The transportation company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Air Transport Services Group had a negative net margin of 0.12% and a positive return on equity of 3.12%. The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $507.46 million. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. On average, equities analysts expect that Air Transport Services Group, Inc. will post 0.84 EPS for the current year.

Institutional Investors Weigh In On Air Transport Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Air Transport Services Group by 247.7% in the 3rd quarter. Barclays PLC now owns 72,934 shares of the transportation company’s stock valued at $1,180,000 after buying an additional 51,955 shares during the period. Dean Investment Associates LLC lifted its holdings in shares of Air Transport Services Group by 39.8% in the third quarter. Dean Investment Associates LLC now owns 173,559 shares of the transportation company’s stock valued at $2,810,000 after purchasing an additional 49,437 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Air Transport Services Group in the third quarter valued at about $269,000. Castleark Management LLC acquired a new stake in shares of Air Transport Services Group in the third quarter valued at about $2,826,000. Finally, State Street Corp increased its position in shares of Air Transport Services Group by 1.1% in the third quarter. State Street Corp now owns 1,258,673 shares of the transportation company’s stock valued at $20,378,000 after acquiring an additional 13,880 shares during the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.

Air Transport Services Group Company Profile

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.