Air Transport Services Group (NASDAQ:ATSG) Posts Earnings Results, Beats Expectations By $0.16 EPS

Air Transport Services Group (NASDAQ:ATSGGet Rating) released its quarterly earnings data on Thursday. The transportation company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.16, MarketWatch Earnings reports. The business had revenue of $485.86 million during the quarter, compared to the consensus estimate of $474.93 million. Air Transport Services Group had a return on equity of 11.57% and a net margin of 13.34%. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS.

NASDAQ:ATSG traded down $0.71 on Friday, reaching $30.36. The stock had a trading volume of 452,383 shares, compared to its average volume of 361,856. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $31.57 and a 200 day moving average of $28.80. The stock has a market cap of $2.26 billion, a P/E ratio of 11.16 and a beta of 0.54. Air Transport Services Group has a 12-month low of $21.42 and a 12-month high of $34.54.

A number of brokerages recently weighed in on ATSG. Stephens upped their price target on shares of Air Transport Services Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. StockNews.com began coverage on shares of Air Transport Services Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Truist Financial upped their price target on shares of Air Transport Services Group from $35.00 to $40.00 in a research report on Monday, February 28th.

In other Air Transport Services Group news, insider Michael L. Berger sold 7,240 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $31.80, for a total value of $230,232.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James T. Pradetto sold 3,242 shares of the stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $31.47, for a total transaction of $102,025.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,924 shares of company stock valued at $346,388. 1.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of ATSG. State Street Corp lifted its position in shares of Air Transport Services Group by 12.3% during the fourth quarter. State Street Corp now owns 1,604,292 shares of the transportation company’s stock worth $47,134,000 after purchasing an additional 175,991 shares during the last quarter. BlackRock Inc. lifted its position in shares of Air Transport Services Group by 1.9% during the fourth quarter. BlackRock Inc. now owns 4,023,611 shares of the transportation company’s stock worth $118,213,000 after purchasing an additional 75,298 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Air Transport Services Group by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 440,019 shares of the transportation company’s stock worth $12,928,000 after acquiring an additional 56,600 shares during the period. D. E. Shaw & Co. Inc. raised its stake in Air Transport Services Group by 52.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 151,365 shares of the transportation company’s stock worth $4,447,000 after acquiring an additional 52,158 shares during the period. Finally, Barclays PLC raised its stake in Air Transport Services Group by 130.6% during the fourth quarter. Barclays PLC now owns 71,643 shares of the transportation company’s stock worth $2,104,000 after acquiring an additional 40,578 shares during the period. 93.34% of the stock is currently owned by institutional investors and hedge funds.

About Air Transport Services Group (Get Rating)

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. The company offers aircraft, flight crews, aircraft maintenance, 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.

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Earnings History for Air Transport Services Group (NASDAQ:ATSG)

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