Atlas Air Worldwide (NASDAQ:AAWW) Raised to Buy at StockNews.com

Atlas Air Worldwide (NASDAQ:AAWWGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Several other research analysts have also issued reports on AAWW. Zacks Investment Research lowered shares of Atlas Air Worldwide from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Wolfe Research lowered shares of Atlas Air Worldwide from a “peer perform” rating to an “underperform” rating and set a $73.00 target price on the stock. in a research note on Tuesday, April 5th.

AAWW opened at $69.10 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.95 billion, a PE ratio of 4.50 and a beta of 1.24. Atlas Air Worldwide has a 1-year low of $62.13 and a 1-year high of $97.13. The firm has a 50-day moving average price of $75.26 and a two-hundred day moving average price of $81.41.

Atlas Air Worldwide (NASDAQ:AAWWGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The transportation company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.40. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Atlas Air Worldwide had a net margin of 11.53% and a return on equity of 21.23%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.45 EPS. On average, research analysts predict that Atlas Air Worldwide will post 16.27 EPS for the current year.

Atlas Air Worldwide declared that its board has authorized a stock repurchase program on Thursday, February 17th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, EVP Adam Richard Kokas sold 9,975 shares of Atlas Air Worldwide stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $88.45, for a total transaction of $882,288.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AAWW. Sixth Street Partners Management Company L.P. boosted its stake in Atlas Air Worldwide by 48.7% during the 3rd quarter. Sixth Street Partners Management Company L.P. now owns 2,007,000 shares of the transportation company’s stock worth $163,932,000 after acquiring an additional 657,000 shares during the last quarter. Millennium Management LLC lifted its stake in Atlas Air Worldwide by 264.9% in the fourth quarter. Millennium Management LLC now owns 434,140 shares of the transportation company’s stock valued at $40,861,000 after buying an additional 315,170 shares in the last quarter. Pacer Advisors Inc. bought a new position in Atlas Air Worldwide in the first quarter valued at approximately $16,505,000. Assenagon Asset Management S.A. bought a new position in Atlas Air Worldwide in the fourth quarter valued at approximately $12,807,000. Finally, Balyasny Asset Management LLC bought a new position in Atlas Air Worldwide in the third quarter valued at approximately $11,065,000.

Atlas Air Worldwide Company Profile (Get Rating)

Atlas Air Worldwide Holdings, Inc, through its subsidiaries, provides outsourced aircraft and aviation operating services. It operates through two segments, Airline Operations and Dry Leasing. The company offers outsourced cargo and passenger aircraft operating solutions, including contractual service arrangements, such as the provision of aircraft; and value-added services, including crew, maintenance, and insurance to aircraft and other customers.

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