Air Transport Services Group (ATSG) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of Air Transport Services Group (NASDAQ:ATSG) from a sell rating to a strong sell rating in a research note released on Saturday morning.

A number of other equities analysts have also recently issued reports on ATSG. Cowen increased their price target on Air Transport Services Group from $27.00 to $30.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Imperial Capital restated an in-line rating and set a $26.00 price target (up from $23.00) on shares of Air Transport Services Group in a report on Thursday, March 1st. ValuEngine upgraded Air Transport Services Group from a hold rating to a buy rating in a report on Thursday, March 1st. TheStreet upgraded Air Transport Services Group from a c rating to a b rating in a report on Wednesday, February 28th. Finally, Susquehanna Bancshares set a $27.00 price target on Air Transport Services Group and gave the stock a hold rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $27.00.

Air Transport Services Group stock opened at $21.57 on Friday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 23.97 and a beta of 1.85. Air Transport Services Group has a 52-week low of $19.17 and a 52-week high of $27.67. The company has a current ratio of 1.12, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26.

Air Transport Services Group (NASDAQ:ATSG) last posted its quarterly earnings results on Tuesday, May 8th. The transportation company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. The firm had revenue of $257.40 million for the quarter, compared to analysts’ expectations of $244.15 million. Air Transport Services Group had a return on equity of 21.26% and a net margin of 2.36%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. sell-side analysts forecast that Air Transport Services Group will post 1.26 EPS for the current year.

Air Transport Services Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, CFO Quint O. Turner sold 3,500 shares of the stock in a transaction on Monday, April 9th. The stock was sold at an average price of $22.64, for a total value of $79,240.00. Following the transaction, the chief financial officer now directly owns 243,874 shares in the company, valued at approximately $5,521,307.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider W Joseph Payne sold 7,500 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $26.09, for a total value of $195,675.00. Following the completion of the transaction, the insider now owns 155,060 shares in the company, valued at $4,045,515.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,739 shares of company stock worth $763,097. 2.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new position in shares of Air Transport Services Group in the 1st quarter worth $871,000. Royal Bank of Canada lifted its holdings in shares of Air Transport Services Group by 344.1% in the 1st quarter. Royal Bank of Canada now owns 48,572 shares of the transportation company’s stock worth $1,133,000 after purchasing an additional 37,634 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Air Transport Services Group by 299.4% in the 1st quarter. Millennium Management LLC now owns 449,870 shares of the transportation company’s stock worth $10,491,000 after purchasing an additional 337,224 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Air Transport Services Group in the 1st quarter worth $296,000. Finally, Barclays PLC lifted its holdings in shares of Air Transport Services Group by 111.6% in the 1st quarter. Barclays PLC now owns 35,922 shares of the transportation company’s stock worth $838,000 after purchasing an additional 18,946 shares in the last quarter. Institutional investors own 88.65% of the company’s stock.

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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