Zacks Investment Research Upgrades Air Transport Services Group (ATSG) to Buy

Zacks Investment Research upgraded shares of Air Transport Services Group (NASDAQ:ATSG) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $25.00 price target on the transportation company’s stock.

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. “

A number of other research firms have also issued reports on ATSG. Imperial Capital lifted their price objective on shares of Air Transport Services Group from $22.00 to $25.00 and gave the company an in-line rating in a research note on Friday, October 5th. ValuEngine upgraded shares of Air Transport Services Group from a sell rating to a hold rating in a research note on Wednesday, October 3rd. BidaskClub lowered shares of Air Transport Services Group from a hold rating to a sell rating in a research note on Wednesday, August 1st. Stifel Nicolaus upgraded shares of Air Transport Services Group from a hold rating to a buy rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Thursday, June 28th. Finally, Susquehanna Bancshares set a $23.00 price target on shares of Air Transport Services Group and gave the stock a hold rating in a research note on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $26.17.

ATSG opened at $20.88 on Tuesday. The company has a market cap of $1.27 billion, a PE ratio of 23.20 and a beta of 1.81. Air Transport Services Group has a 52-week low of $19.17 and a 52-week high of $27.67. 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 (NASDAQ:ATSG) last posted its quarterly earnings data on Monday, August 6th. The transportation company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $203.61 million for the quarter, compared to analyst estimates of $208.24 million. Air Transport Services Group had a net margin of 10.44% and a return on equity of 20.53%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Equities research analysts predict that Air Transport Services Group will post 1.34 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in Air Transport Services Group by 8.9% during the first quarter. Wells Fargo & Company MN now owns 60,179 shares of the transportation company’s stock valued at $1,404,000 after purchasing an additional 4,926 shares during the last quarter. SG Americas Securities LLC bought a new stake in Air Transport Services Group during the first quarter valued at $147,000. BlackRock Inc. increased its stake in Air Transport Services Group by 1.2% during the first quarter. BlackRock Inc. now owns 3,370,899 shares of the transportation company’s stock valued at $78,609,000 after purchasing an additional 39,360 shares during the last quarter. Baird Financial Group Inc. increased its stake in Air Transport Services Group by 1.8% during the first quarter. Baird Financial Group Inc. now owns 287,570 shares of the transportation company’s stock valued at $6,706,000 after purchasing an additional 5,204 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Air Transport Services Group by 26.7% during the first quarter. Allianz Asset Management GmbH now owns 721,706 shares of the transportation company’s stock valued at $16,830,000 after purchasing an additional 152,227 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

About Air Transport Services Group

Air Transport Services Group, Inc engages in the provision of airline operations, aircraft leases, aircraft maintenance and other support services primarily to the cargo transportation and package delivery industries. It operates through three segments: ACMI Services, Ground Services and CAM. The ACMI Services segment includes the cargo transportation operations of its three airlines.

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