Truist Financial Lowers Air Transport Services Group (NASDAQ:ATSG) Price Target to $14.00

Air Transport Services Group (NASDAQ:ATSG) had its price target dropped by equities researchers at Truist Financial from $20.00 to $14.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the transportation company’s stock. Truist Financial’s price objective indicates a potential upside of 11.55% from the company’s current price.

A number of other analysts have also recently issued reports on ATSG. StockNews.com cut Air Transport Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Susquehanna cut their target price on Air Transport Services Group from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Air Transport Services Group has a consensus rating of “Hold” and an average price target of $23.33.

Air Transport Services Group Stock Down 0.5 %

Shares of NASDAQ:ATSG traded down $0.06 on Friday, hitting $12.55. 56,444 shares of the company’s stock were exchanged, compared to its average volume of 632,862. The firm’s 50-day moving average is $13.16 and its 200 day moving average is $15.79. The company has a market capitalization of $824.28 million, a PE ratio of 16.69 and a beta of 0.85. Air Transport Services Group has a 1-year low of $11.62 and a 1-year high of $24.96. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.74 and a current ratio of 0.86.

Air Transport Services Group (NASDAQ:ATSG) last announced its earnings results on Monday, February 26th. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.11). The firm had revenue of $517.04 million during the quarter, compared to analyst estimates of $521.04 million. Air Transport Services Group had a net margin of 2.91% and a return on equity of 7.93%. Sell-side analysts predict that Air Transport Services Group will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATSG. Vanguard Group Inc. raised its position in Air Transport Services Group by 1.7% in the third quarter. Vanguard Group Inc. now owns 6,339,788 shares of the transportation company’s stock valued at $132,311,000 after purchasing an additional 103,496 shares during the period. American Century Companies Inc. increased its position in shares of Air Transport Services Group by 12.7% during the third quarter. American Century Companies Inc. now owns 1,155,841 shares of the transportation company’s stock worth $24,122,000 after acquiring an additional 130,130 shares during the last quarter. U S Global Investors Inc. increased its holdings in Air Transport Services Group by 38.4% in the fourth quarter. U S Global Investors Inc. now owns 1,982,354 shares of the transportation company’s stock valued at $34,909,000 after buying an additional 550,229 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Air Transport Services Group by 255.4% in the third quarter. Assenagon Asset Management S.A. now owns 71,440 shares of the transportation company’s stock valued at $1,491,000 after buying an additional 51,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Air Transport Services Group by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 832,544 shares of the transportation company’s stock valued at $17,375,000 after buying an additional 67,700 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

About Air Transport Services Group

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.